APG, NPS and Swiss Life completed the acquisition of an 81.1% stake in Brisa for $2.6bn.

APG, a provider of pension fund management and consultancy services, National Pension Service, a public pension fund in South Korea, and Swiss Life Asset Managers, a European asset and real estate manager, completed the acquisition of an 81.1% stake in Brisa, a European toll road platform, from Arcus and José de Mello Group, at a €3bn ($3.25bn) valuation. “This long-term strategic partnership agreement will enable Brisa's growth and development plans to continue, given the size, experience and management quality of the three members of the purchasing consortium. This partnership is a sign of confidence in Portugal and the Portuguese economy in a context of great adversity. It represents a unique opportunity for the company to strengthen its position and leverage its expertise in mobility,” Vasco de Mello, Brisa Chairman and CEO, and José de Mello Group Chairman and CEO.