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Vinci's main concession assets are the ASF and Cofiroute concessions in France, which generated 59% of 2017 reported group EBITDA.
French road builder Colas SA (EPA:RE) anticipates to receive up to EUR380m (USD519m) in net proceeds from the disposal of its 16.67% interest in toll motorway operator Cofiroute.
"Sooner or later, more and more transportation officials will embrace congestion pricing," says Cofiroute USA's Hausdorfer.
High Quality Concessions: Vinci's main concession assets are the French toll roads of ASF and Cofiroute, which contribute predictable, high-quality cash flows.
M2 EQUITYBITES-December 23, 2013-Colas expects up to EUR380m net proceeds from Cofiroute stake sale
What has been called "the worst most sophisticated road toll project" was resurrected early in 2004 in renewed negotiations between the German government and TollCollect, the consortium that includes DaimlerChrystler, Deutsche Telekom and French motorways operator Cofiroute. The addressable market of trucks that move to and through Germany is estimated at over one million; the required onboard units, featuring Siemens and Delphi Grundig equipment, have been installed in some 150,000 trucks so far.
Daimler Chrysler and Deutsche Telekom will each have a 45% stake in Toll Collect, with French motorway operator Cofiroute holding the remaining 10%.
"Unfortunately, we drive too fast," said Michel Galet of Cofiroute, the French tollroad company.
The target's owners are Daimler AG (ETR:DAI) and Deutsche Telekom AG (FRA:DTE), each with a 45% stake, and French Cofiroute, with a 10% stake.
Daimler Chrysler and Deutsche Telekom will each have a 45% stake and French motorway operator Cofiroute will hold the remaining 10%.
DaimlerChrysler and Deutsche Telekom AG would each have a 45% stake in the joint venture, the French motorway operator Cofiroute S.A.
The European Investment Bank (EIB) has granted Cofiroute, a private French motorway operator, a Euro 200 million loan to complete the A86 motorway to the west of the French capital.
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- Cofidis - Credit par Telephone
- Cofinal (mathematics)
- Cofinancing Agreement
- Cofinancing agreements
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