Arcus and APG acquire A1 motorway in Poland

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Arcus and APG acquire A1 motorway in Poland

Arcus Infrastructure Partners and APG Asset Management have announced that, following signing in November, they have completed the acquisition of NDI Autostrada Sp. z o.o. (NDIA)  from Grupa NDI and Transport Infrastructure Investment Company (TIIC).

NDIA owns a 25.31% stake in the Gdańsk Transport Company (GTC), a special purpose company set up in 1996 to pursue the DBFMO project for the northern section of the AmberOne A1 (A1) motorway concession in Poland.

As part of the acquisition strategy, NDIA exercised its right of first refusal on Skanska’s 30% stake and also on John Laing’s 29.7% interest in this same project during November 2016. The acquisition of these additional stakes is anticipated to complete in the first quarter 2017, pending approval from the senior lenders and the Minister of Infrastructure and Construction, and would take NDIA’s ownership in GTC to 85%.

The A1 motorway in Poland is one of the country’s main traffic routes running through central Poland, connecting Rusocin, south of Gdańsk, to Toruń. This 152-km stretch is the northernmost section of the A1 motorway. From Toruń onwards, the route leads via Łódź, Czestochowa and Katowice, south to Gorzyczki on the State border. The concession is due to expire in 2039.

Arcus and APG were advised by Hogan Lovells (Legal), Jacobs LeighFisher (Technical and Traffic), Grayling (Political), Deloitte (Financial and Tax) and AON (Insurance).

Commenting on this transaction, Stefano Brugnolo, Senior Investment Director, who led the acquisition, explained on behalf of Arcus:

“We are very pleased to announce our first transaction in Poland, demonstrating our presence and interest in the region. We are convinced that the A1 motorway represents a strong infrastructure investment proposition and we are looking forward to using our transportation asset management expertise for the benefit of the A1 motorway stakeholders”.

Ian Harding, Co-Managing Partner, further commented:

“This acquisition underlines Arcus’ ability to originate, evaluate and successfully execute a complex strategy resulting in a significant shareholding in an attractive asset for Arcus and its’ underlying investors”.

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