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Tuesday, 25 June 2019 17:55

PPU advises Sacyr on infrastructure concessionaire divestment

Chilean law firm Philippi Prietocarrizosa Ferrero DU & Uría (PPU) has advised Sacyr Concesiones on its sale of stakes in infrastructure concessionaires to local asset management company Toesca.

Chile highwaysToesca acquired a 49 per cent stake in Concesiones Viales Andinas (Coviandina) and a 19 per cent stake in Sociedad Concesionaria Salud Siglo XXI in a deal valued at approximately $494 million.

Coviandina is a consortium comprising Episol, with an 80-per cent participation, and Concecol, with 20 per cent, and which was founded in 2015. Coviandina is currently building a 134km highway extension between Chirajara and Fundadores in Colombia, which is slated for 2021 completion.

Healthcare infrastructure developer 

Sociedad Concesionaria Salud Siglo XXI is a consortium made up of Sacyr Concesiones Chile, SNC-Lavalin Infraestructura Chile and Global Dominion Access.

PPU lawyers advising on the deal were partners Andrés Sanfuentes, Federico Grebe and Ignacio Larraín, together with associates Carlos Larraín, Guillermo Vial, Álvaro Espinosa and Gabriel Budnik.