Ferrovial Sells 40% In Chilean Toll Operator

Spain’s transportation infrastructure investor Ferrovial sold its remaining 40% stake in Intervial Chile, a toll road operator, to Colombia’s Interconexion Electrica (ISA) in a deal valued at EUR160m (US$216m). The transaction is part of a purchase option that ISA had the right to exercise as agreed in Sept. 2010 when it purchased the initial 60% stake from Ferrovial. Intervial Chile currently operates 5 different toll road concessions in the Andean country. ISA officials said no advisors were involved in this option exercise agreement and noted that the final value of the deal could vary by the time of the closing, expected over the next 90 days. Colombia’s ISA has operations in Central America as well as Panama, Chile, Colombia, Brazil, Bolivia and Peru.