Spanish giant Globalvia has completed the acquisition of a Colombia highway concession.
After reaching terms on the deal in December last year, Globalvia has now finalized the terms to pick up Ashmore’s stake in the SF Convias SA concession.
The project consists of a 5.4km highway in Barranquilla. The concession will run until 2044.
The move marks Globalvia’s entrance into the Colombian market, after previously investing in Chile and Costa Rica.
Javier Pérez Fortea, the firm’s chief executive, commented that the deal “represents a very important step in providing us with the entry into the country and supports our strategy of continuing to explore projects in Latin America”.