Stephenson Harwood instructed on DIF-Cintra toll roads deal
Stephenson Harwood advised investment fund management company DIF on the acquisition of stakes in two Irish toll roads from Spanish construction company Cintra.
The deals involved DIF´s purchase of a 46 per cent stake in the M4 and a 75 per cent stake in the M3, both roads are located near Dublin, the Irish capital.
The value of the deals was €61m in total, according to Mergermarket data.
The M4 reached financial close in 2003 and has been operational since 2005, with a remaining ´concession life’ of around 18 years. The M3 reached financial close in 2007 and has been operational since 2010, with a remaining concession of 37 years.
The projects are financed with long term debt.
