Investors make binding bids for Portuguese toll road operator Brisa
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.