As published in Inframation, Monday, 1 November 2021
Mexican Fibra E investment trust Fibra Orión has acquired the La Venta-Punta Diamante highway in Acapulco for MXN 1.03bn (USD 49.39m) from developer Grupo Méxicano de Desarrollo (GMD), according to a 29 October filing.
Fibra Orión won a competitive bidding process for the highway asset, which was run by Rubicon Capital Advisors.
The GMD companies that sold their equity stakes in the project were Grupo Mexicano de Desarrollo, S.A.B.; Arrendadora Grupo Mexicano, S.A. de C.V.; Desarrollo de Infraestructura, S.A. de C.V.; Midstream del Golfo, S.A.P.I. de C.V.; GMD Ingeniería y Construcción, S.A. de C.V.; and Obras y Proyectos, S.A. de C.V.
Ritch Mueller provided legal advice to the sellers. Berix Advisors provided financial advice and Noriega y Escobedo provided legal advice to the acquirors. EY advised Fibra Oriónon fiscal matters, BZS on financial aspects, INEPS on technical aspects and Aviantegperformed a traffic study for the Fibra owner.
Fibra Orión will acquire the Autopistas de Guerrero, S. A. de C. V. (Drake) SPV, which won a 20-year contract for the 21.5km (13.4-mile) toll road in 1991 and extended the contract for a further 20 years in 2004.
The acquisition follows Fibra Orión’s purchase of BlackRock’s Tapachula-Ciudad Hidalgo-Talisman highway in October 2020 and Macquarie’s Desarrollos Carreteros del Estado de Durango (Decarred) highway concessionaire, which it acquired in June 2021.