The Newport Southern Distributor Road is a PPP motorway concession in the UK, consisting of a 24km dual carriageway containing infrastructure elements such as five bridges, seventeen underpasses and ten retaining walls. The road has been operational since 2004. The asset serves as a key arterial route connecting the industrial and urban areas of Newport with neighboring regions such as Cardiff and Swansea. Operating under an availability payments scheme backed by Newport City Council, the asset provides stable yield to the portfolio.

The transaction marks Serena’s entry into the UK market and makes a significant social and environmental contribution by substantially reducing pollution and enhancing regional connectivity. It aligns closely with the resilience standards set out in the UK’s Net Zero 2050 targets, supporting long-term sustainability and climate goals while delivering tangible benefits to local communities.