EMPRESAS ICA, S.A.B. DE C.V. Empresas ICA, S.A.B. de C.V. and CDPQ announced the completion of the transaction to create an operational platform that owns the concessions for four of ICA's operational toll roads and highways. The operational platform, ICA Operadora de Vías Terrestres is a newly formed joint venture company. ICA transferred its ownership interest in the concessionaires for the four projects to ICA OVT.
Under the terms of the transaction, ICA owns 51% of the platform and CDPQ 49%. For its equity interest, CDPQ is paying ICA MXN 3,014 million which will in turn be principally used to prepay ICA's short term corporate debt. ICA and CDPQ will operate the joint venture with a focus on participating in the operation and acquisition of highway and toll-road infrastructure assets in Mexico.
ICA will continue to be responsible for the operation of the highways and for all maintenance requirements. The four highways and tollroads included in the initial transaction are, Mayab tollroad, Rioverde – Ciudad Valles highway, La Piedad Bypass and the Acapulco Tunnel.
