IMAP Portugal advises Mota-Engil on the disposal of HL and Haçor hospital infrastructure concessions to Horizon Equity Partners
Mota-Engil sold 50% of HL -Sociedade Gestora do Edifício and 40% of HAÇOR – Concessionária do Edifício do Hospital da Ilha Terceira
IMAP is pleased to announce that the Mota-Engil Group has reached an agreement with Horizon Equity Partners on the disposal of its positions in 2 Portuguese Hospital PropCo Concessions.
Following the conclusion of negotiations, Mota-Engil sold 50% of HL -Sociedade Gestora do Edifício, which holds the concession for the management of the Hospital de Loures building, and 40% of HAÇOR –Concessionária do Edifício do Hospital da Ilha Terceira, which holds the concession for managing the Hospital on Terceira island. Both companies are responsible for the buildings’ design, construction, financing, operation and maintenance until 2039.
For both participations, Horizon Equity Partners will pay a total of €21 million. The completion of the transaction is subject to conditions, namely the approval of the grantor, the financing entities, and the Portuguese Competition Authority.
For Mota-Engil, this operation is a reflection of a financial strategy that has been developed over several years, envisaging the rotation of mature concession assets, aiming at generating shareholder value, optimizing Mota-Engil’s capital structure and strengthening its investment capacity.
Banco Invest, (Invest Corporate Finance – IMAP Portugal) acted as Mota-Engil’s exclusive advisor during the sales process.