ADELAC

ADELAC is the concessionaire of the A41 north motorway, a 20 kilometre commuter road between
Annecy in eastern France and Geneva in Switzerland.

About ADELAC


Location

Eastern France

Road opened

2008

Length

20 kilometres

Number of lanes

Two lanes in each direction

Tolling structure

Tolls to escalate annually in February by French CPI plus a fixed percentage under the concession contract

Toll collection

Cash, electronic and credit card

Concession expiry

31 December 2060

Factsheet

 Download Factsheet (.pdf)

The A41 north provides a strategic link between two important European cities, Annecy in France and Geneva in Switzerland, offering fast transit for commuters and facilitating leisure traffic between Geneva and the French Alps.

The road provides a continuous motorway connection to the A41 (south) and the A40 (west), part of the APRR network. APRR is the operator of the ADELAC Concession.

Concessionaire ownership structure

ALX’s 25.03% interest in ADELAC is held via:

  • 12.55% through Macquarie Autoroutes de France 2 SA (MAF2) (being 50.1% of MAF2’s 25.1% interest in ADELAC); and
  • 12.48% proportionate holding through its indirect interest (being 25.0% in APRR’s 49.9% interest in ADELAC).

Ownership History

When the A41 road was opened in January 2008, the ADELAC Concession was 49.9% owned by AREA, a subsidiary of APRR and the operator of A41. This 49.9% ownership interest was subsequently transferred from AREA to APRR.

In November 2016, AREA entered into an agreement to acquire an additional 46.1% interest in ADELAC. MAF2 (the entity through which ALX holds its interest in the APRR Group) and Eiffage subsequently entered into an agreement with AREA to purchase this 46.1% interest. This was followed by additional 4.0% acquisitions by Eiffage and MAF2 of the remaining minority interests.

Accordingly, MAF2 has a 25.0% indirect holding in ADELAC through the APRR Group in addition to a 25.1% direct holding in ADELAC.

Road Configuration

The A41 was opened in 2008 and is 20 kilometres in length with a configuration of 2x2 lane motorway.

ADELAC has three toll plazas each with cash, credit and ETC toll payment facilities.

Tolling Structure

There are five tolling categories on the ADELAC concessions, refer to the APRR section for further details.

Under the concession contract, tolls are permitted to increase annually on 1 February by French CPI plus a fixed percentage until the concession end:

  • Until 2020: tolls to increase annually by French CPI +1.7%
  • 2021-2030: tolls to increase annually by French CPI +1.0%
  • 2030 onwards: tolls to increase annually by French CPI

In the event that French CPI is negative to the extent that the above calculations result in a toll decrease, tolls will be floored at a 0% change for that year.

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