The Catalan Government earns €310 million by privatising highway management services for 25 years
On the 5th of December, the Catalan Executive allocated the tender to privatise the public companies Tabasa and Túnels del Cadí to the joint venture formed by Invicat (owned by Abertis) and the investment bank BTG Pactual. On Friday, the deal was completed and the Catalan Government earned €309.6 million, representing 72% of the total of the €430 million operation. In addition, the two public companies will effectively disappear. The concession will last for the next 25 years and the Catalan Government will continue to own the infrastructures but it will transfer the management and exploitation. The operation includes the tolls at the Vallvidrera highway tunnels accessing Barcelona and the Cadí tunnel, at Cerdanya County, in the Pyrenees.