Arcus announces sale of 81% stake in Brisa

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Arcus Infrastructure Partners announced that Arcus European Infrastructure Fund 1 L.P., together with The José de Mello Group, has executed binding documentation for the sale of a combined 81% majority stake in Brisa Auto-Estradas de Portugal S.A. (Brisa) to a consortium comprised of APG Asset Management N.V., the National Pension Service of Korea and Swiss Life Asset Management AG. More specifically, the acquisition will be made through a vehicle directly and indirectly wholly owned by the Consortium and jointly controlled by APG and NPS. Arcus is selling its entire 40.6% interest as part of the transaction, and its co-shareholder in Brisa, JdM, is selling an equal 40.6% interest in the joint sale. The transaction is expected to close at the end of the third quarter of this year.

The closing of the transaction is subject to certain regulatory conditions, including EU antitrust clearance, which will be sought by the Consortium and JdM in the coming weeks.

Arcus’ financial advisors for this transaction were Morgan Stanley and Millennium Investment Banking. Arcus’ legal advisors were Clifford Chance as to English law and Luxembourg law and CS Associados as to Portuguese law. Deloitte provided accounting and tax advice.

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