Aberdeen Investments and Florida-based alternative asset manager DigitalBridge said they have completed the combination of ZEmobility and VGMobility, creating one of the largest sustainable transportation platforms globally, with over 5,400 buses deployed across Latin America.
“The transaction involves a combination of ZEmobility, an electric bus platform with 2,800 vehicles across Colombia and Chile jointly owned by DigitalBridge and Aberdeen Investments, and VGMobility, a similar platform with 2,600 vehicles across the same geographies,” said Aberdeen.
“The combined platform comprises 16 concessions across Colombia and Chile and provides social infrastructure to transport authorities in Bogota and Santiago under long-term, government-backed and availability-based lease contracts.
“The platform will continue operating under ZEmobility brand, whilst incorporating incremental VGMobility functions, solidifying the company’s position as the leading public transport decarbonisation platform in Latin America with more than 5,400 vehicles.
“The transaction delivers on DigitalBridge’s and Aberdeen Investments’ combined vision for growth in the sector, creates increased momentum for future pipeline deployment across existing and new markets in Latin America, and strengthens the capital structure of the business.”
Sadiq Malik, Managing Director and Head of InfraBridge, on behalf of DigitalBridge, said: “This combination brings together the two leading electric bus platforms in the region and establishes ZEmobility as a leader in Latin American transport electrification.”
Ivan Wong, Partner, Concession Infrastructure, Aberdeen Investments, said: “VGMobility is a high-quality business operating the same long-term, contracted concession model as ZEmobility, making this a highly complementary combination.
“By bringing together more than 5,400 buses across Colombia and Chile, the combined platform is helping accelerate the decarbonisation of public transport in Latin America, supporting cleaner air, lower emissions and more sustainable urban mobility for millions of passengers.”