Azora has acquired the concession for the operation of the Bilbao Intermodal bus station from the Amenabar Group. This is a concession until 2057 for the management of intercity buses with origin or destination in the city of Bilbao, the operation of an underground car park with 526 spaces, as well as a commercial area of 850 m2 annexed to the station.
The station, whose construction was completed in October 2019, is located in a high-traffic area and forms part of the San Mamés interchange, where Renfe Cercanías, the Bilbao metro and the city’s tram services converge.
This acquisition is part of Azora’s strategy of investing in real assets with high development potential that contribute to sustainability and is in addition to the acquisition of 51% of the San Sebastian bus station completed last July. Both stations have been acquired from the Bilbao-based company Infrabask II, created by Azora to invest in sustainable infrastructures.
The strategy with both assets seeks to decongest traffic in city centres, promote intermodality and facilitate the recharging of electric cars.
Cuatrecasas advised Azora with a Corporate team formed by partner Marcos García González, counsel Javier Romero Sullá, and lawyers Alfonso Coronel de Palma de la Mata and Jaime Sepúlveda.
Garrigues advised Amenabar with a team made up of partners José María Ruiz Ilundain and Iokin Mas, together with principal associate Carlos Lasa, senior associate Maite Otamendi and associate Mikel Intxausti.
Deloitte Legal advised on the Due Diligence and Tax matters of this transaction with a team led by partner Pablo Esteban Arce, together with principal associate Sergio Ramírez Soto and senior associate Javier Sainz de Murieta.
