Ardian, the world's leading private investment firm, together with the Chilean Fund Manager, CMB, agreed to acquire a 33% stake in a Chilean toll road business from Brookfield Infrastructure. The business that is being acquired is comprised of a 100% interest in Vespucio Norte Express and Túnel San Cristóbal in Santiago de Chile.

Vespucio Norte Express is a critical urban express highway in Santiago de Chile with 29 kilometers of extension of a multi-lane road (3X3) with a free flow system, which borders the city from the north-east to the south-west connecting two of the city’s wealthiest areas to the industrial side of the capital.

Túnel San Cristóbal in Santiago de Chile is a 4 kilometers toll tunnel expressway in Santiago, which includes two uni-directional (2x2) tunnels that connect the district of Providencia with the district of Huechuraba. Both districts are densely populated with consolidated commercial areas. The remaining concession life of these two assets is 14 and 18 years respectively.

The transaction is Ardian’s Infrastructure first investment in the Chilean transport sector. Ardian is already active in the energy sector in the country. Asset Chile acted as financial advisor and Baraona Fischer & Cia as legal counsel to Ardian and CMB. The closing of the transaction is subject to the satisfaction of customary, regulatory and other approvals.