TIIC – Acquisition of tram concession stake in Spain

Infrastructure fund TIIC 2 has acquired a minority stake in the company managing the Zaragoza tram system DBFMO, the first investment since the fund completed fundraising late last year. The deal, involves the acquisition of a 16.8% in Consortio Traza, which owns 80% of the Zaragoza Tram concession project. The other private shareholders are Spanish groups Acciona, CAF, FCC and local transport operator Transporte Urbanos de Zaragoza (TUZSA). Financial details of the transaction have not been disclosed.