Willkie client John Laing Group acquired a 30 percent stake in a Colombian 4G toll road concessionaire, marking the company’s first investment in Latin America.
Willkie represented UK infrastructure investor John Laing Group in its acquisition of a 30 percent stake in a Colombian 4G toll road concessionaire for $80 million, marking the company’s first ever investment in Latin America. The seller group comprises UK investment fund Ashmore, Colombian infrastructure company Cintra and Scotiabank Colpatria. The transaction, which closed on October 29, required approval from the various lenders (including Financiera de Desarrollo Nacional) connected to the concessionaire.
Concesionaria Ruta del Cacao is set to construct and operate a 236-kilometer toll road connecting the cities of Bucaramanga, Barrancabermeja and Yondó in north-eastern Colombia. The route, expected to be completed in 2021, is utilized by farmers in the region, which is known for cacao and other agricultural products. The concessionaire secured $590 million in project financing for the road last year.
The transaction was handled by partners Archie Fallon, Maria-Leticia Ossa Daza and Ryan Cicero and associate Michael Vacca.