B&E counsels Globalvía on purchase of 34% stake from Brookfield Infrastructure
Barros & Errázuriz has advised Globalvía on the purchase of a 34% stake in the Vespucio Norte motorway and the San Cristóbal tunnel from Brookfield
Barros & Errázuriz has counselled Globalvía Licitaciones e Infraestructura Chile SpA on the purchase of 34% of Brookfield Americas Infrastructure Holdings Chile I, S.A., owned by Brookfield Americas Infrastructure Holding I, S.L., indirectly acquiring 34% of Sociedad Concesionaria Vespucio Norte Express S.A. and Sociedad Concesionaria Túnel San Cristóbal S.A.
This transaction was signed on 14 September, where the closing of the transaction is subject to the approval of the shareholding change by the entities participating in the financing of the assets.
The advice included a due diligence process of the concessionaire companies, the structuring of the transaction and the drafting and negotiation of the share purchase agreement. Carey Abogados acted as advisor to the seller.
As of 31 December 2020, Sociedad Concesionaria Vespucio Norte Express was indirectly controlled by Brookfield Americas Infrastructure Holdings Chile I S.A (BAIH). In turn, the shareholders of BAIH were Brookfield Americas Infrastructure Holdings S.L, being 33% owned by the Chilean public limited company Infraestructura Alpha, and another 33% by Apoquindo SpA.
This acquisition is part of Globalvía’s long-term international growth strategy, adding two assets to its portfolio which, together with the three currently in Chile, represent a total of more than 430 kilometres of concessions in the country. Until now, it had Autopista del Itata (Concepción-Chillán), Autopista del Aconcagua (Santiago-Los Vilos) and Autopista Costa Arauco (Tres Pinos-North Access to Coronel section), which was acquired in 2017.
Globalvía also has presence in the United States (Pocahontas Parkway), Costa Rica (Ruta 27), Portugal (Transmontana), Mexico (Autovía Nuevo-Necaxa Tihuatlán), and Spain with more than 15 transport routes.
B&E’s team was integrated by partners Nicolás Balmaceda (pictured right) and Bernardo Simian (pictured left), senior associates Diego Ovalle, María Olga Rivera and Andrés Rodríguez, as well as associates Axel Ewert, Magdalena Rojas, Isidora Cavallini, María José Bordalí, Sebastián Zaror and Valentina Muñoz.
