Pátria Investimentos sells remaining stake in Entrevias to GIC
Patria Investimentos announced this Thursday the sale of the remaining 45% stake in the Patria Infraestrutura III Fund, which is under its management, in Entrevias to the Singapore sovereign wealth fund GIC, according to a press release.
The transaction marks the conclusion of the investment cycle in this asset, which began in 2017, Patria said, adding that the deal is subject to approval by regulatory authorities.
Created by Pátria after winning an Artesp auction, Entrevias operates 570 km of highways in the state of São Paulo, connecting regions such as Ribeirão Preto, Marília and the Triângulo Mineiro region. The 30-year concession required investments in the recovery, expansion and modernization of the highway network, with more than R$1.8 billion in investments in recent years, according to a statement from the investment manager.
In 2022, the fund had already sold 55% of Entrevias. The company will continue to operate with Vinci Highways, while the entry of GIC will support the new phase of expansion, Patria said.
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