GIC, Pátria win São Paulo toll road concession

GIC, Pátria win São Paulo toll road concession

Project & Infrastructure Finance Regulation Brazil Asia

Brazilian private equity firm Pátria Investimentos and Singapore's sovereign wealth fund GIC won an auction on Wednesday to operate a toll road network in the state of São Paulo, the state transportation agency Artesp said in a statement. The consortium offered BRL1.1 billion ($271 million) for the 30-year contract and beat EcoRodovias, the only other bidder, which presented an offer for BRL527 million, according to Artesp. The state government had set the minimum bid at BRL15 million, meaning P

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