1.2 ASSETS AND LIABILITIES CLASSIFIED AS HELD FOR SALE
In 2017 the agreement initiated in 2016 for the sale of the Portuguese toll roads Norte Litoral (51%) and Autoestrada do Algarve (49%), for a total price of EUR 162 million, was completed. The two transactions gave rise to a net gain of EUR 98 million. Following the sale of these holdings, non-controlling interests of 49% and 48%, respectively, have been retained.
The impact of the aforementioned sale transactions on “Assets/Liabilities Classified as Held for Sale” is shown in the tables below:
ASSETS |
AUTO-ESTRADAS NORTE |
ALGARVE TOLL ROAD |
TOTAL |
Balance at 01/01/17 |
378 |
246 |
624 |
Investments in infrastructure projects |
-284 |
-154 |
-438 |
Restricted cash and cash and cash equivalents |
-31 |
-34 |
-65 |
Other assets |
-63 |
-58 |
-121 |
Balance at 31/12/17 |
0 |
0 |
0 |
LIABILITIES |
AUTO-ESTRADAS NORTE |
EUROSCUT ALGARVE |
TOTAL |
Balance at 01/01/17 |
256 |
183 |
440 |
Borrowings |
-211 |
-177 |
-388 |
Derivative financial instruments at fair value |
-33 |
0 |
-30 |
Other liabilities |
-12 |
-6 |
-22 |
Balance at 31/12/17 |
0 |
0 |
0 |