According to Jornal de Negócios contacts will begin in the coming weeks with potential investors, such as road operators and international infrastructure funds, to conclude the sale operation during the summer.

The sale value could exceed 400 million euros, as recent transactions in Europe in the toll motorway sector were made for 12 to 15 times the EBITDA value, and as the EBITDA expected for this year exceeds 35 million euros this implies a valuation of concessionaire of at least 420 million euros.

However, the assessment may be higher, as organic growth is expected to be driven by congestion on the VCI, the alternative route, and as it expects to benefit from an extension of the concession term in a few years due to Covid-19, potentially exceeding the contract of the 27-year concession period that would end in 2034. Furthermore, the concessionaire justifies its prospects with GDP growth and family income above the national average in that region.

Since 2011, AEDL has recorded annual traffic growth of 12%, with current levels being 40% above pre-pandemic levels.