Milbank LLP acted as counsel for GIC Special Investment Pte. Ltd. (“GIC”) in connection with its joint acquisition with Abertis Infraestructuras, S.A. (“Abertis”) of an approximate 72% stake in Red de Carreteras de Occidente S.A.B. de C.V. (“RCO”) through a consortium formed by GIC and Abertis. The consortium acquired an approximate 70% stake held by Goldman Sachs Infrastructure Partners and its affiliates and an additional 2.3% stake held by local investors and pension fund managers (AFORES), minority shareholders of RCO.
RCO is an integrated operator and developer of infrastructure and the largest privately owned pure-play toll road concessionaire and operator in Mexico. RCO manages five concessions that include 876 kilometers of eight toll roads that connect the industrial corridor of El Bajío with Mexico City and Guadalajara.
The Milbank team was led by Global Corporate partner John Franchini with associates Aaron Stine and Frank Pensabene. Advice was also provided by Antitrust partners Fiona Schaeffer and Alexander Rinne.
“We are pleased to have worked on the successful closing of GIC’s investment in RCO, together with its partner Abertis,” said Mr. Franchini.
June 5, 2020
