When the A41 North road was opened in January 2008, the ADELAC Concession was 49.9% owned by AREA, a subsidiary of APRR and the operator of A41 North. 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 Atlas Arteria 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 an additional 4.0% acquisitions by Eiffage and MAF2 of the remaining minority interests. Accordingly, MAF2 had a 25.0% indirect holding in ADELAC through the APRR Group in addition to a 25.1% direct holding in ADELAC.
On 2 March 2020, Atlas Arteria acquired an additional 6.14% indirect interest in ADELAC, increasing Atlas Arteria’s indirect interest from 25.03% to 31.17%, via its:
- 62.29% interest in MAF2 which holds a 25.1% direct interest in ADELAC; and its
- 31.14% indirect interest in APRR which holds a 49.90% direct interest in ADELAC