A Brisa-led consortium has been named preferred bidder by
Estradas de Portugal for the €600 million
Litoral Oeste concession. The formal award, which was made on Friday 13 February, was expected given that the consortium posted an NPV bid some €80 million lower than the other shortlisted consortium, a Mota-led group advised by BES.
CaixaBI is advising Brisa, and is expected to put together a fully amortising debt package of around 14-years by front-ending the availability payment, following the template
CaixaBI used in the Brisa-led
Baixo Tejo deal. So far, only
CaixaBI and
Banco BPI have committed to the deal but other Iberian banks will be included. Close is expected by mid-March.
Also expected to close at around the same time is the
Algarve Litoral project.
Dragados-Edifer has been named preferred bidder (the same group won
Baixo Alentejo) and is advised by SG. SG and Santander have pre-committed to the deal.