Iridium, has completed the acquisition from AMEC Bravo Limited of the 25% stake of AMECÂ’s, which will result in owning 75% of the issued share capital in Road Management Services (A13) Holdings Limited. The total enterprise value of the transaction is approximately 132 million GBP. Iridium has been involved in the development of the Project along its partners since its inception in the year 2000.
This transaction extends IridiumÂ’s active role in the United Kingdom, a well-developed PPP market and target market for the ACS Group. Specifically, the acquisition of an additional stake in the A13 manifests IridiumÂ’s commitment to managing and operating this asset actively, which is one of LondonÂ’s main arteries and only high capacity corridor located within East LondonÂ’s major urban development area.
The concession has up to 12 years of remaining life and has been financed with long term debt.
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