ACS completes the sale to Hermes Infrastructure of majority interests in six shadow toll concessions in Spain

ACS completes the sale to Hermes Infrastructure of majority interests in six shadow toll concessions in Spain

Iridium Concesiones de Infraestructuras, S.A. (Iridium), an Actividades de Construcción y Servicios, S.A. (ACS Group) company, and Hermes Infrastructure (Hermes) are pleased to announce the completion of the sale of 74% of Iridium’s equity holdings in six shadow toll concessions in Spain to Hermes Infrastructure.

Iridium will maintain a key role in the management, operations and maintenance of the assets through long-term contractual arrangements and through governance rights associated with its 26% equity interest.

The six shadow toll roads have a total Enterprise Value as of December 2019 of approximately €950 million on a 100% basis.

The concessions are as follows:

  • Eix Diagonal (in Catalonia)
  • Reus-Alcover (in Catalonia)
  • Autovía del Pirineo (in Navarra)
  • Autovía de los Pinares (in Castilla y Leon)
  • Autovía de la Mancha (in Castilla-La Mancha)
  • Santiago-Brión (in Galicia)

The agreement for the sale of the concession portfolio took place in November 2019.  Completion of the sale and purchase of Eix Diagonal, Reus Alcover and Autovia del Pirineo took place on 29th of January 2020 following the receipt of all necessary consents and approvals at the end of 2019.

For the remaining concessions, Autovia de los Pinares, Autovia de la Mancha and Santiago-Brión, following the recent receipt of all consents and required approvals, completion took place on 28th of April 2020.

Iridium Profile: /

Iridium Concesiones de Infraestructuras, S.A. is the ACS Group company which develops, finances, invests in, manages, operates, maintains, conserves, restores and equips all types of government concessions involving transport and public works infrastructure. Iridium manages more than 100 companies working in the construction/operation of various government concessions, making it a world leader in infrastructure development.

The ACS Group is one of the world’s leading infrastructure developers and service companies. It is involved in the development of sectors that are key to the economy, such as infrastructure and energy. The company is committed to the economic and social progress of the countries in which it operates.


Hermes Infrastructure Profile:

Hermes Infrastructure is a specialist investment manager providing institutional investors equity investment opportunities in infrastructure across the UK, Europe and other OECD jurisdictions. Established in 2011, we manage over £4 billion of committed and invested capital including £2.8 billion of existing investments. Hermes Infrastructure is majority owned by Federated Hermes, Inc.

Federated Hermes, Inc is a leading global investment manager with $575.9 billion in assets under management as of Dec. 31, 2019. Guided by our conviction that responsible investing is the best way to create wealth over the long term, our investment solutions span 135 equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies and a range of separately managed account strategies. Providing world-class active investment management and engagement services to more than 11,000 institutions and intermediaries, our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes’ over 1,800 employees include those in London, New York, Boston and several other offices worldwide. For more information, visit This communication has been distributed by the international business of Federated Hermes.