Macquarie snaps up Brazil toll road system

Macquarie Asset Management has acquired 100% of Monte Rodovias, a toll road portfolio platform in Brazil, via its managed funds with Macquarie Infrastructure Partners VI.

The terms of the agreement were not disclosed.

The platform comprises of the concessionaires for four toll roads in northeast Brazil and a toll road in the central Brazilian agricultural state of Mato Grosso, totalling 740km across three states and connecting one of the largest cities with its various points of interest, including the airport, industrial complexes and the central agricultural state in Brazil.

The acquisition increases Macquarie AM's portfolio transportation infrastructure in Brazil and Latin America, in addition to its investments in Corredor Logística e Infraestrutura (CLI) in Brazil, Supervia Poniente in Mexico and the Odinsa Transport Platform in Colombia and Ecuador.

Further, the asset manager has other investments in the waste management, green energy and data centre sectors in Brazil, having first invested in 1999.

Commenting, Macquarie AM Brazil country lead Fernando Lohmann said the acquisition will generate positive long-term outcomes.

"We remain dedicated to strengthening Brazil's critical infrastructure through the acquisition of Monte Rodovias and other investments in the future," Lohmann said.

Meanwhile, Monte Rodovias chief executive Fabio Bonini believes the acquisition is a step forward to its commitment in sustainable development of Brazil.

"... [Especially] in regions like the northeast, where efficient service drives local economic growth and social development, and in the centre-west, where quality infrastructure helps the country's food belt supply the global economy," Bonini said.

"We are proud to be a platform that generates value for our granting authorities, our investors, and the communities we serve - ensuring operational excellence, continuous investment, and sustainable growth."

Monte Capital Management founder Julio Zogbi added that infrastructure represents a "once-in-a-generation" investment opportunity, particularly in emerging markets.

"Our track record in proprietary origination, operational transformation, local community partnership and value-creation have been fundamental to this journey," Zogbi said.

The deal is set to finalise later this year, subject to the customary closing conditions.