Brookfield sells stake in Vespucio Norte and San Cristóbal TunnelOctober 1, 2019, by - LATIN LAWYER
French company and Chilean fund manager acquire road projects
Baraona Fischer & Cia in Santiago has helped French private equity company Ardian and CMB, Chile’s largest fund manager, acquire a 33% stake in two under-construction urban road projects in Chile.
Ardian and CMB bought the stake from Canadian asset management company Brookfield, which was advised by Carey in Santiago. The deal closed on 5 September.
The transaction is Ardian’s first investment in the Chilean transport sector – it is already active in the country’s energy sector.
The Vespucio Norte Express highway, which has a 14-year concession life, connects the northeast and southwest of Santiago with a toll road. The San Cristóbal tunnel, which is under an 18-year concession, is an express toll viaduct that will be one of the main alternatives for north-south road traffic in the capital.
Counsel to Ardian and CMB Infrustructure Fund
In-house counsel - Juan Angoitia
Baraona Fischer & Cia
Partners Alfonso Ugarte and Federico Rodríguez, and associates María Jesús Hernández, Gonzalo Aravena, Trinidad Sáenz, Santiago Aninat, Marta Arias and Emily Escobedo
Counsel to Brookfield
In-house counsel - Fernando Ziziotti
Partner Salvador Valdés, and associates Angélica De la Carrera, Arturo Poblete, Loreto Joannon and Manuel José Garcés