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| NCC to sell share in Polish concession company AWSA Sweden-based NCC has sold its interest in the Polish company Autostrada Wielkopolska, AWSA, which has a concession to construct, own and operate the A2 expressway between Nowy Tomysl and Konin in Poland. The transaction will generate a pretax gain of approximately SEK 480 million for NCC and impact earnings and cash flow during the fourth quarter of 2008. Since 2000, NCC has been involved in the first privately financed expansion of part of Poland's A2 expressway, which is planned to link Berlin and Moscow in the future. Between 2000 and 2004, NCC was involved in constructing the first stage, in a consortium with the Austrian construction company Strabag. AWSA holds a concession that expires in 2037 for the construction, ownership and operation of the abovementioned part of the A2. After the concession expires, the expressway will be transferred to the Polish government. As a result of the sale, NCC will not participate in the future expansion of the expressway. The purchaser is Meridiam Infrastructure A2 Sarl, a subsidiary of Meridiam Infrastructure Fund (SCA) SICAR, domiciled in Luxembourg established in 2006 to invest exclusively in Public Private Partnership projects predominately in Europe. Cash flow in 2008 corresponds to the pretax gain. During 2009, NCC will pay tax on the gain generated by the sale. write your comments about the article :: © 2008 Construction News :: home page |