N25 owner Celtic Roads to be taken over by creditors

The roads firm owned by BAM, Dragados and Atlas Investments has failed to restructure €205 million-worth of debts

11th July, 2021
N25 owner Celtic Roads to be taken over by creditors
The main creditors of Celtic Roads Group are CVC’s credit arm and Bank of America’s Merrill Lynch subsidiary.

Celtic Roads Group, which owns the N25 toll road in Waterford, is to be taken over by its creditors after it failed to restructure more than €200 million in debts.

Last October, it was reported the company entered discussions with creditors to restructure its €205 million in debts, after toll income failed to reach expectations even before the pandemic caused traffic levels to drop.

The company, which operates the 23km stretch of Waterford bypass, is...

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