DIF agrees to acquire stake in US toll roaddoor Mark Vuurberg op 02 dec 2016, 10:06
Toronto, 2 December 2016 – DIF Infrastructure IV (“DIF”) is pleased to announce that it has reached an agreement to acquire a 33.3% equity interest in Northwest Parkway, a toll-road located in the Denver metropolitan area of Colorado, U.S.A. (the “Project”). DIF is part of a consortium alongside Northleaf Capital Partners and HICL Infrastructure Company Limited which has conditionally acquired a 100% equity interest in Northwest Parkway from Brisa, a Portuguese toll-road operator.
Northwest Parkway has 90 years left on its 99-year concession to operate and maintain a 14km section of the beltway system extending around Denver. The road, which started operations in 2003, has strong traffic history and connects with several toll and non-toll highways, including E-470, I-25, US 36 and US 287, providing convenient access to residential and commercial centres in the region. Revenues are generated by tolls through an all-electronic tolling system. The counterparty to the concession is the Northwest Parkway Public Highway Authority.
The Project is DIF’s first transportation infrastructure investment in North America, a sector in which DIF expects considerable growth for the years ahead. "Northwest Parkway represents an excellent investment opportunity for our investors. The Project offers a combination of its operational history, significant growth potential and strong downside protection due to the contractual structure and strength of Denver’s economic and demographic factors,” said Paul Huebener, Partner and Head of DIF Americas.
Completion is subject to a limited number of conditions and is expected in the first half of 2017.
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