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.