Evolution Infrastructure acted as model auditor to Igneo Infrastructure Partners on the acquisition of two Portuguese road concessionaires: Auto-estrada do Algarve Via do Infante (AAVI), and Auto-estradas Norte Litoral (AENL), from funds managed by CVC DIF.
AAVI operates the A22 motorway, a 130km route running between Lagos and Castro Marim in southern Portugal. The concession, which expires in May 2030, serves as a critical transport link for both local and tourist traffic in the Algarve region.
AENL, located in northern Portugal, manages a 113km network comprising the A28 and A27 motorways, connecting Porto to Caminha along the country’s northern coastline. Its concession is scheduled to end in September 2031. Traffic across the two networks is driven by a balanced mix of commuter, business, and tourism-related demand.
The acquisition represents a strategic expansion of Auto-Estradas do Douro Litoral (AEDL), which following completion will become the third largest toll road operator in Portugal, with a combined 322km of tolled roads spanning both the north and south of the country.
Hamish Tulloch, Partner at Evolution Infrastructure commented:
“We are pleased to have supported Igneo Infrastructure Partners on this significant acquisition. The addition of AAVI and AENL further strengthens Igneo’s presence in the Iberian transport infrastructure market.”
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