Patria Investments Limited reported that it acquired the concession Pacific 3, made up of three construction companies: the Colombians Condor Constructions SA and MHC Engineering and Construction of Civil Works, and the Costa Rican Meco Construction Company.
After signing the sales contract, Patria, which is a global alternative asset manager, “will carry out the necessary procedures for the closing of said business, including approvals from the National Infrastructure Agency (ANI) and the financiers“.
(See: Section of Invías, after Pacific 1, already has studies and designs).
Although figures for the agreement were not disclosed, the investing company said that this operation “reaffirms Patria’s commitment to the development of Colombia and consolidates its role as a key player in the transformation of national road connectivity“.
It is known that Pacific 3 is part of the First major group of 4G infrastructure projects in the country and its concession was granted under the scheme of Public-Private Partnerships (PPP) by ANI.
His work has focused on 19 municipalities in the departments of Caldas, Risaralda and Antioquia and has consisted of “in the improvement and construction of new roads on 146 kilometers“.
(See: Invías has opened tenders to improve roads connecting Chocó with Medellín and Pereira).
Pacific 3.
Private file
“Pacific 3 also aims to bring the Port of Buenaventura and the Caribbean closer to the production centers of Antioquia and the Coffee Belt, improving roads and connectivity, which is reflected in savings in costs, time and distances for travelers and transporters.“, Patria explained.
The firm added that the acquisition of Pacific 3 strengthens its portfolio of infrastructure projects in Colombia, where already manages the Rutas del Valle and Ruta al Sur projects.
(See: Bogotá Metro’s 72nd Street interchange will take longer than expected).
“With this investment we ratify Patria’s commitment to the Colombian road sector, and reaffirm our vision of participating in the generation of legacy in the territories where we are present, connecting opportunities for the development of the country.“, he reiterated José Mestres, Head of Infrastructure for Latin America at Patria.
Patria Investments has more than 35 years of history and experience in managing more than 4,000 km of toll roads in Latin America. It has more than $43 billion in assets under management and a global presence.
In Colombia, together with the Bancolombia Group, he launched a company that operates “as a cornerstone of Patria’s alternative asset platform and access to the financial institution’s solid local distribution channel“.
The assets it manages are from the sectors ‘private equity’, infrastructure, credit, ‘public equities’, ‘real estate’ and ‘global private markets solutions’.
(See: What are the challenges that the infrastructure sector still faces for reactivation?).
In addition to Latin America, the United States and Europe are other regions in which it operates and invests.
Pacific 3.
Private file
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