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S. Korean pension fund's consortium buys Portuguese road operator Brisa

All Headlines 20:32 May 06, 2020

SEOUL, May 6 (Yonhap) -- South Korea's National Pension Service (NPS) said Wednesday that its consortium has purchased a combined 81 percent stake in Portuguese road operator Brisa.

The consortium also included Dutch pension fund manager APG Asset Management NV and Swiss Life Asset Management AG.

The NPS, which had 714.3 trillion won (US$602.4 billion) in assets under its management as of the end of February, declined to give any details on its stake in Brisa, the leading toll road operator in Portugal.

Brisa operates 1,628 kilometers of motorways in Portugal.

S. Korean pension fund's consortium buys Portuguese road operator Brisa - 1

Arcus Infrastructure Partners said last month that it sold a 40.6 percent stake in Brisa, as did Portugal's family-run Jose de Mello Group.

The London-based infrastructure fund said the closing of the transaction, which is expected to be completed at the end of the third quarter of this year, is subject to certain regulatory conditions, including European Union antitrust clearance.

entropy@yna.co.kr
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