Banks that financed the takeover bid of motorway operator Brisa are hoping to include its shares on its books at a much higher value than the original offer, newspaper Jornal de Negócios writes today.

JdN reports that the three lenders that financed the takeover bid issued by Tagus Holdings – Banco Comercial Português, Banco Espírito Santo and Caixa Geral de Depósitos – “encouraged” the operation “in order to manage the high indebtedness level of Grupo Mello and take the firm out of the stock market”.

José de Mello – partner in Tagus holding – and the Arcus fund will benefit from Brisa’s exit from the PSI-20 as the operator’s value “will stop being dictated by the market” and be “evaluated by an external independent auditors who will take into account fundamental variables, like future cash flows”. JdN reports.

Banks now estimate that Brisa could soon be worth €3.6bn – or €6 per share – “enough to cover as a guarantee of the current liabilities of the José de Mello Group”. according to the newspaper’s sources.

The final offer in the takeover bid was €2.76 per share.

(Photograph: Brisa. All Rights Reserved)