Sale occurred over two separate transactions with second one having just reached financial close
MADRID, SPAIN, July 7th , 2020 – Rubicon Capital Advisors (“Rubicon”) is pleased to announce the sale, over two separate transactions, of an aggregate 95.0% equity stake in Autopista de Gudalmedina, C.E.S.A., the company responsible for the design, construction financing, operation and maintenance of c. 28km of the AP-46 dual carriageway, which runs north-south between Alto de las Pedrizas and Puerto de la Torre in the province of Andalusia and is the main access route to the Costa del Sol and the city of Malaga from central Spain and Europe.
The first transaction was the sale of a 47.5% equity stake to Aberdeen Infrastructure (Holdco) IV B.V., a fund managed by Aberdeen Standard Investments. This sale reached commercial close in October 2019 and financial close in February 2020.
The second transaction represented the sale of another 47.5% equity stake, this time to Core Infrastructure II S.à r.l., a fund managed by Vauban Infrastructure Partners. This sale reached financial close in June 2020.
In each case, Rubicon acted as exclusive sell-side financial advisor to the seller, Sacyr Concesiones, S.L., which is a wholly-owned subsidiary of Sacyr S.A. (together, “Sacyr”).
The remaining 5% equity stake will be retained by Sacyr along with the responsibility for managing and operating the toll road.
“We’re delighted to build on our strong relationship with Sacyr with this transaction, which represents the third time Rubicon has represented Sacyr or one of their portfolio companies in raising equity or debt capital from international investors”, stated Rubicon Managing Director & Partner Carmen Lopez. “This sale continues Rubicon’s market leading position in the Spanish market where it has sold or refinanced over 50 brownfield assets in the past 5 years”.
About Rubicon Capital Advisors
Rubicon is one of the world’s leading investment banking firms focused solely on the infrastructure, energy & utilities sectors. With offices in Europe, the Americas and Asia, along with further expansion plans in 2020, the firm has a truly global reach. Since inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of over 100 essential infrastructure, energy & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value in excess of USD $60 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member of FINRA and SIPC and registered as a broker-dealer with the SEC. Learn more about the firm at: www.rubiconcapitaladvisors.com and by following Rubicon Capital Advisors on LinkedIn and Twitter.
Sacyr Concesiones has a portfolio of 45 diversified infrastructure assets (highways, hospitals, railways, airports, car parks) distributed across 10 countries in Europe and Latin America. Sacyr’s subsidiary is a specialist in greenfield projects where it adds value in all its project phases: design, construction, financing, operation and maintenance. It is the fourth largest global developer of greenfield projects in the world and the seventh transport infrastructure concessionaire, according to the prestigious magazine Public Works Financing.
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