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Abertis Buys Autopista Central For USD1 Billion

Author:Ms Lulu Rumsey
Profession:Carey
 
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The London, Madrid, Stockholm and Luxembourg offices of Ashurst LLP and Chile's Claro & Cía have helped Spain's Abertis Infraestructuras take full control of a concession to run Chile's busiest toll road.

Abertis bought a 50 per cent stake in Autopista Central worth US$1 billion from Canadian pension fund investor Alberta Investment Management Corporation (AIMCo) in a deal announced last Thursday. The pension fund hired Allen & Overy LLP in London, Chile's Carey and Canada's Stikeman Elliott LLP. It is also thought to have hired Swedish firm Vinge and Luxembourg's Loyens & Loeff, but neither firm confirmed before publication.

The transaction makes Abertis the sole owner of a concession that expires in 2031. The 61-kilometre toll road runs from the north to the south of Santiago, crossing the centre and carrying 81,000 vehicles a day. The deal comes shortly after Abertis announced it had bought up shares it did not already own in two other Chilean toll road concessionaires, a deal for which it also turned to Claro & Cía.

The acquisition makes Chile Abertis' third-largest market, behind only Spain and France.

Counsel to Abertis

Ashurst LLP Partners Tom Mercer and Nick Rainsford and associate Aaron Shute in London, partner María José Menéndez in Madrid, partner Isabelle Lentz...

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