Gautrain contractor sells stake

The construction and engineering firm that helped deliver the Gautrain PPP project in South Africa has sold its entire stake in the project.

Credit: Gautrain

Johannesburg-based Murray & Roberts has sold its share in the Bombela Concession Company (BCC) to Dutch investor, Intertoll, for a total of R1.39bn ($78m).

Murray & Roberts owned a 50% stake in BCC, which is the project vehicle delivering the Gautrain PPP project. In August 2017, it bought incremental stakes from French firms Bouygues and Bombardier.

The contract is due to expire in 2026, although in May last year, the Gautrain Management Agency began the search for transaction advisors to help develop feasibility studies for the continuation of the Gautrain Rapid Rail Link.