DIF and Swiss Life Asset Managers to acquire toll road PPP in Poland

door Mark Vuurberg op 08 nov 2016, 09:06 DIF and Swiss Life Asset Managers to acquire toll road PPP in Poland

Schiphol, 8 November 2016 – DIF Infrastructure IV and Swiss Life Funds (Lux) Global Infrastructure Opportunities II, managed by Swiss Life Asset Managers, have reached an agreement with Skanska to jointly acquire its 30% shareholding in the Gdańsk Transport Company, which holds the concession rights to design, build, finance, maintain and operate a 152km section of the A1 (E75) motorway in Poland. The concessionaire is entitled to a mix of availability payments and shadow toll revenue.

Closing of the transaction is subject to approval by the Polish authorities and financing institutions.

This section of the A1 is located in the Polish regions of Pomerania and Kuyavia-Pomerania, running from Gdańsk to Toruń. While it is operated as a toll road, the concession agreement provides for a mix of availability-based payments and shadow toll revenue to investors. The concession was awarded in two phases in 2004 and 2008, respectively. The northern section entered into commercial operation in 2008 and the southern section in 2011. The concession expires in 23 years in 2039.

Long term senior debt is provided by the European Investment Bank, Svensk Exportkredit and Nordic Investment Bank.

DIF and Swiss Life Asset Managers were advised by Allen & Overy (legal), PWC (financial & tax) and Infrata (technical and traffic).

DIF Profile

DIF is an independent and specialist infrastructure fund management company, managing funds of approximately €3.3 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, renewable energy assets and other core infrastructure assets in Europe, North America and Australia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner

Allard Ruijs, Partner

Swiss Life Asset Managers Profile

Swiss Life Asset Managers has soon 160 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany and Luxembourg.

As at 30 June 2016 assets under management for third-party clients amount to € 41 billion. Together with insurance assets for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at € 186.8 billion. Swiss Life Asset Managers has a dedicated infrastructure team focusing on infrastructure investments across OECD countries managing funds of approximately € 1.8 billion.

For more information, please contact:

Christoph Manser, Head of Infrastructure Investments

Frank Heiss, Executive Director

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