Carey advises Brookfield in Sale of 33% Stake of Toll Roads Autopista Vespucio Norte and Túnel San Cristóbal
March, 2020 - Chile
Chilean fund manager CMB and French investment company Ardian purchased a minority stake in two toll roads in Santiago.
The seller, U.S. asset management company Brookfield Infrastructure Partners relied on Carey for the deal, which closed on 6 February, 2020. The value of the deal remains confidential.
The transaction gave CMB and Ardian a 33% joint stake in the Vespucio Norte Express and Túnel San Cristóbal toll roads.
The Vespucio motorway forms a 29-kilometre loop around the capital, connecting a wider network of roads to key locations including the city’s international airport Arturo Merino Benítez. Meanwhile, the 4-kilometre-long tunnel San Cristóbal allows vehicles to pass under the 880-metre Cerro San Cristobál hill in the city centre, linking Santiago’s financial district of Providencia with the northern suburb of Huechuraba.
Counsel to Brookfield Infrastructure Partners included Carey Partners Salvador Valdés and Cristián Figueroa, and Associates Arturo Poblete and Loreto Joannon.
