Apr 13, 2020 - Economy & Business

Investors make binding bids for Portuguese toll road operator Brisa

Illustration of two roads diverging

Illustration: Sarah Grillo/Axios

Arcus Infrastructure Partners has received multiple binding offers for its 80% stake in Portuguese toll road operator Brisa, which originally was expected to net around €3 billion, per Bloomberg.

Why it matters: This could be a litmus test for how investors view the future of office work. Portugal's toll road traffic has obviously tanked in the midst of lockdown, but long-term revenue trends will depend on how many people keep working from home after the pandemic subsides.

  • Suitors reportedly include Abertis Infrastructure, Globalvia, APG Groep, China State Construction Engineering Corp.

The bottom line: "Brisa is Portugal’s biggest toll-road operator and oversees 1,628 kilometers (1,012 miles) of roads in the country, including a network of 17 motorways," writes Bloomberg.

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