Warnow Tunnel Acquisition
15 Aug 2018
Atlas Arteria (ALX) today announces that it has entered into an agreement to acquire the remaining 30% equity interest and shareholder loan in Warnow Tunnel for €3.7 million, increasing ALX’s total interest to 100%.
The Warnow Tunnel is a 2 kilometre toll road, including a 0.8 kilometre tunnel under the Warnow River in the city of Rostock, with a concession expiry of 2053.
ALX has owned 70% of Warnow Tunnel since ALX’s inception. The acquisition of the remaining minority stake represents a continuation of ALX’s ongoing policy of portfolio simplification and is consistent with the overall business strategy. Ownership of 100% also creates optionality for ALX to optimise the value of the asset in the future.
The acquisition will be fully funded by ALX’s existing corporate cash and is expected to close by the end of year, subject to customary closing conditions and approvals.