TINC Comm : acquires an additional participation in the A11 highway (Belgium)

TINC, the infrastructure investor listed on Euronext Brussels, acquires an additional participation in the public-private partnership for the realisation of the new A11 highway located between Knokke and Zeebruges (Belgium).

The A11 highway with its total length of 12 kilometres, ensures a smooth connection of the Port of Zeebruges to the hinterland. By separating the port traffic from the local traffic, road safety improves and the port is able to expand. The tourist traffic no longer needs to use the regional roads and now moves fluently towards the seaside. The local traffic can move more smoothly and safely. New local connections for car and bicycle traffic make enjoyable driving between several polder villages. The public-private partnership, with the Flemish Region (the Agency for Roads and Traffic) as client, includes the design, building, financing and 30-year maintenance of the highway, in consideration of an annual performance-related availability fee. The highway is realised by a consortium consisting of the contractors Jan De Nul, Van Laere, Aclagro, Aswebo, and Franki Construct, and became operational in September 2017.

As from June 2017, TINC held a participation of approximately 23% in the A11 highway. TINC is now acquiring the stake of the industrial shareholders Jan de Nul, Van Laere, Aswebo and Franki Construct, in co-investment with the unlisted infrastructure fund DG Infra Yield. As a result, TINC's participation in the A11 highway increases to approximately 39%. The acquisition price of circa € 20 million for TINC's additional participation was determined on the basis of a return requirement that is in line with the return expected by TINC for similar participations in its investment portfolio.