DIF’s consortium reaches financial close on German A6 highway PPP

door Mark Vuurberg op 14 dec 2016, 17:42 DIF’s consortium reaches financial close on German A6 highway PPP

Frankfurt, 14 December 2016 – The ViA6West consortium, which comprises of DIF Infrastructure IV, HOCHTIEF PPP Solutions and JOHANN BUNTE Bauunternehmung has reached financial close on the contract for the construction and operation of the extension of the A6 highway in Germany.

Under the contract, the consortium has the responsibility to plan, finance, build, operate and maintain the extension of the A6 highway between the Wiesloch / Rauenberg junction and the Weinsberg motorway junction in Baden-Württemberg. The project will result in 25 kilometres of six lanes of new highway and the renewal of the 1.3 km Neckartal bridge between Heilbronn / Untereisenheim and Neckarsulm, and includes the operation and maintenance of the A6 over a total length of 47 kilometres. The transaction amount is around €1.3 billion with construction costs of approximately €600 million.

Construction is scheduled to start at the beginning of 2017, with completion expected in the summer of 2022. The widening works will be undertaken whilst the motorway remains open. ViA6West will operate and maintain the motorway section until 2046. The project will be operated under an availability payment schedule.

DIF Infrastructure IV has a 50% shareholding in the ViA6West consortium, with HOCHTIEF PPP Solutions holding 30% and JOHANN BUNTE Bauunternehmung holding 20%.

The project is financed by a combination of medium and long term facilities involving DZ BANK, European Investment Bank (EIB), KFW IPEX-Bank, Landeskreditbank Baden-Württemberg - Förderbank, and MUFG. The project is qualified for the Juncker Plan under which the EIB and the European Commission provide funds for infrastructure projects.

Advisors to the consortium include Freshfields (legal) and Chatham Partners (legal), and UniCredit Bank as financial advisor. Advisors to the lenders include Ashurst (legal), Gleiss Lutz (EIB legal) Ernst & Young (modelling, audit and fiscal) and Arup (technical advice).

About DIF

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

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