Shareholders Commit Additional Funds to Support Globalvia’s Long-Term Strategic Plan and Overall Focus on North American Market

Globalvia, a worldwide infrastructure concession management leader based in Madrid, today announced an investment of EUR 1.0 billion by current shareholders OPTrust, PGGM and USS. The investment will be deployed by Globalvia into worldwide infrastructure projects.

Established in 2007, Globalvia is ranked among the ten largest transportation developers globally*. The company was acquired by OPTrust, PGGM and USS from Bankia, a Spanish bank, and FCC, a global construction company. The platform, led by these three international pension funds, manages 27 projects throughout eight different countries – Spain, USA, Portugal, Ireland, Andorra, Mexico, Costa Rica and Chile. Combined, Globalvia manages more than 1,600 km of highways and more than 90 km of railway lines, providing services to over 250 million users annually.

The company has developed a reputation as a leading road and rail platform with the ability to optimize operations and maintenance (“O&M”) and manage construction risk and traffic ramp up in long term concessions.

• In December 2016, the company acquired the Pocahontas Parkway, the second longest brownfield toll road concession currently operating in the U.S. with a contract term that expires in 2105. The acquisition of this toll road based in Richmond, Virginia has established a strategic presence for the company in the US market, ‘paving the way’ for future investments into North American road and rail concessions.
• In 2017, the company also closed a number of acquisitions in Portugal. In February, Globalvia acquired the first block of shares in the A23 – Beira Interior highway in Portugal. The company also became a majority shareholder in Transmontana (Autoestradas XXI), a 194-km highway located in northern Portugal. In October, the company acquired the remaining 22% stake in the concession, bringing its shareholding to 100%. With these concessions, Globalvia consolidated its position in Portugal, managing two of the largest toll road concession assets in the country.
• In August 2017 the company reached an agreement to acquire a 100% stake in Costa Arauco (formerly known as Ruta 160) in Chile. This highway is a 90-km toll road that connects the province of Arauco to Concepción, in the south of Chile. Following the acquisition, Globalvia now manages three of the country’s largest highways, representing over 400 km of motorways.

Since OPTrust, PGGM and USS’ initial involvement in the business, Globalvia has invested almost EUR 1 billion into both existing concessions and new acquisitions.

Globalvia’s objective is to continue growing by acquiring road and rail projects to become the foremost player in the global transport infrastructure market. Globalvia seeks to incorporate new and stable projects into its portfolio in countries that ensure legal certainty, and is ready to do so with innovative funding solutions.

In the words of Javier Pérez Fortea, CEO of the company: “We believe we have the best management teams for our assets and devote our work to providing safety and service, while we thrive on navigating the wave of innovation. We take pride in our flexibility that allows us to grow and build value for the shareholders and the communities in which we are present”.  

Gavin Ingram, Global Head of Infrastructure, OPTrust adds: “Globalvia continues to be a very successful investment for OPTrust and represents a key strategic platform in our Infrastructure portfolio. We are very pleased to increase our commitment to the Globalvia platform to continue to support and benefit from the team’s strong operational and investment capabilities. Alongside our partners in PGGM and USS, we look forward to capitalizing on future growth opportunities and the continued success of Globalvia”.

Erik van de Brake, head of PGGM’s infrastructure division comments that Globalvia is one of PGGM’s cornerstone infrastructure investments since 2012. “Transportation assets have proven to deliver strong and stable returns to our pension fund clients. By increasing our commitment to Globalvia our clients continue to benefit from the outstanding investment and operational capabilities of the Globalvia team. This partnership greatly expands our exposure to transportation infrastructure globally”, he said.

Gavin Merchant, Head of Real Assets at USS commented “Globalvia is a leading owner and operator of road and rail concessions globally.  The business has performed exceptionally well since USS first acquired an interest to fund its expansion into new markets like North America as well as investing in new and existing concessions in its local Spanish and Portuguese market. USS’ increased commitment to Globalvia reinforces our confidence in the Company and the Management team delivering our growth strategy.”

* According to Public Works Financing 2017 Ranking.