Baraona Marshall & Cia in Acquisition of 33% of infrastructure concession
On September 5th the CMB infrastructure fund and the French group Ardian France SA acquired the 33% stake of the concessionaires of the urban road projects Vespucio Norte and Túnel San Cristóbal, which belonged to Brookfield Americas Infrastructure Holdings.
The Vespucio Norte Express highway is under concession for 14 more years and connects Santiago from northeast to southwest with a toll payment system. The San Cristóbal Tunnel, concessioned for the next 18 years, is an express toll viaduct that acts as one of the main alternatives of north-south vehicular traffic in the capital city.
Alfonso Ugarte, partner at Baraona Marshall & Cia who advised CMB and Ardian, commented: “We are honored to participate, by advising our clients CMB and Ardian, in their collaborative effort to acquire this asset. This transaction is an example of an alliance between Chilean and foreign institutional investors, which we believe is very positive for the country and we hope it will be replicated in the future ”.
This is the first Ardian´s infrastructure investment in Chile since it has participation in energy projects. Also is important to highlight the interest of pension funds in investing in the country’s infrastructure, creating a virtuous circle of employment generation and other positive interactions that foster the national economy.
Alfonso Ugarte led the legal advice for Ardian and CMB, along with partner Federico Rodríguez and the team conformed by María Jesús Hernández, Gonzalo Aravena, Trinidad Sáenz, Santiago Aninat, Marta Arias and Emily Escobedo.