DIF Infrastructure Fund V closes acquisition of American Roads
DIF Infrastructure V has successfully closed the acquisition from Syncora Holdings Ltd. of a 100% stake in American Roads LLC, an infrastructure holding company that owns and operates, through its subsidiaries, four toll bridges in Alabama and a concession-lease of the U.S. side of an international tunnel crossing connecting Detroit, Michigan and Windsor, Ontario.
The companies entered into a definitive agreement for the acquisition in May.
DIF was advised by Allen & Overy (Legal), Agentis Capital (Financial), Buro Happold (Traffic), BTY (Technical) and Marsh (Insurance). Financing for the investment was provided by ING and National Australia Bank (NAB).
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