HICL Infrastructure Company Limited - Acquisition of a new investment for US$166.4m
HICL Infrastructure Company Limited ("HICL" or the "Company"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), is pleased to announce that it has completed the acquisition of a 33.3% equity interest in Northwest Parkway (the "Project"). HICL is part of a consortium alongside DIF Infrastructure IV and Northleaf Capital Partners, which acquired a 100% equity interest in the Project from Brisa.
The Company previously communicated to investors that it had entered into an agreement with the vendor to purchase the interest, subject to limited conditions to completion. Those conditions have been met and HICL's investment of $166.4 million has been completed.
Northwest Parkway is a 99-year concession, signed in 2007, to operate and maintain a 14km section of the beltway system extending around Denver. The Project has good traffic history as the road was opened in 2003 and connects to several toll and non-toll highways, including E-470, I-25, U.S. 36 and U.S. 287, providing convenient access to residential and commercial centres in the region. Project revenues are generated by tolls through an all-electronic tolling system. The counterparty to the concession is the Northwest Parkway Public Highway Authority.
For the RNS issued by HICL, please follow the link.