Cobra IS, a subsidiary of VINCI, announces the sale of its 50% stake in the Brazilian company Mantiqueira Transmissora, holder of the public-private partnership (PPP) for the high-voltage line of the same name.

The purchaser is the Canadian infrastructure fund Brookfield, which will increase its ownership in the company to 100%.

The amount of the sale amounts to approximately €130 million.

The 1,200 km long line has 18 substations and crosses 50 municipalities in the State of Minas Gerais. It was awarded to Cobra IS following a public auction in 2016 and then commissioned in 2022, in compliance with contractual deadlines and standards despite Covid-19 related constraints. At the peak of the construction, this site employed almost 3,800 people, most of whom were recruited locally. According to the agreements reached, the operation and the maintenance of this line will continue to be carried out by Cobra IS.

This transaction illustrates Cobra IS's proven know-how and technical expertise in this sector, but also its ability to regularly streamline its portfolio through value-creating transactions.

Since 2023, Cobra IS has indeed sold - also in Brazil and to the same investor - 50% of the Sertaneja PPP and 50% of the Chimarrao PPP. The total amount of these three disposals (Mantiqueira, Sertaneja and Chimarrao) amounts to approximately 1.8 billion Brazilian reals, or nearly 300 million euros.