Morais Leitão advised VIALITORAL – Concessões Rodoviárias da Madeira, S.A. on the structuring and completion of the reversion process of the public service concession for the operation and maintenance of the VR1 expressway, between Ribeira Brava and Machico, in the Autonomous Region of Madeira. The process was completed on 28 July.
This was the first transaction of its kind to be completed in Portugal. It involved the transfer of all assets and rights associated with the concession, including the infrastructure, equipment, subcontracts, employees, insurance policies and intellectual property rights, ensuring a seamless transition to the new operator without any interruption to the provision of the public service.
The Morais Leitão team, which advised the concessionaire throughout the 26-and-a-half-year term of the concession agreement, was led by Ana Monjardino, with the support of Margarida Olazabal Cabral, Luís Miguel Monteiro and Vasco Stilwell de Andrade, across the firm's Infrastructure and Road Concessions, Administrative and Public Procurement, Employment, and Intellectual Property practices.
