Pretoria - Group Five, the listed construction and engineering group, has finalised the Gdansk Transport Company (GTC) in Poland portion of the sale of a 49.99 percent stake in its Intertoll Europe underlying public private partnership (PPP) project investment portfolio to Aberdeen Infrastructure Funds (AIF) for e43 million (R657.65m).
The company said it anticipated financial close on the Mecsek Autopalya Koncesszios Zrt (M6 Mecsek) assets in Hungary before the end of next month. Intertoll Europe’s PPP project investment portfolio comprises a 15 percent holding in GTC, a 10 percent holding in M6 Mecsek and a 12.67 percent holding in M6 Duna.
Following implementation of the Transaction, Group Five will hold 50.01 percent of the seed assets and AIF the remaining 49.99 percent, with the interests of both parties’ interests held through Intertoll Capital Partners BV, a joint venture established to facilitate this partnership.
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BUSINESS REPORT ONLINE