Spain’s second largest bus company Avanza won the tender for the concession to operate Lisbon metro and bus carrier Carris, the Portuguese ministry of economy informed.
Sergio Monteiro, secretary of state for transport, said that the concession agreement will save the government some EUR 215 million over the eight years of the contract.
The contract will be signed this month, although regulators’ approval of the deal could take months.
Five candidates had presented bids to buy stakes in Lisbon metro and bus company Carris.
The government is selling state-owned companies as part of a plan to reduce its heavy debt load after the EUR 78 billion bailout package it signed in 2011 with the European Commission, the International Monetary Fund and the European Central Bank.
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