Lulu Rumsey

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 and associate Paul Witte in Luxembourg, and partner Pontus Bergsten and
associates Erica Hegerin, Simon Hahn and Rasmus Lüning in Stockholm.

Claro & Cía
Partner Sebastián Eyzaguirre and associates José María Eyzaguirre, Vicente Portales and Nicolás Aspillaga

Counsel to Alberta Investment Management Corporation

Allen & Overy LLP
Partner Stephen Lloyd and associates Oscar Mitchell and Tom Jokelson in London.

Partners Cristián Eyzaguirre and Alex Fischer and associates Manuel José Garcés, Isabel Espinoza, Ximena Silberman and Nicolás Ocampo

Stikeman Elliott LLP
Partner Leland Corbett and associate Janel Young in Calgary, and partner Vince Imerti and associate Ryan Abrahamson in Toronto.

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