PINFRA (Promotora y Operadora de Infraestructura) has announced that its subsidiary Fibra Vía has completed 100% stake acquisition of the Michoacán highway package concession for MXN10 billion (US$500.7 million).

The Michoacán highway package concession involves the construction and operation of two road bypasses of Morelia and Uruapan (89km), and the rehabilitation, modernization and operation of the Morelia-Pátzcuaro-Uruapan-Lázaro Cárdenas highway (263km), located in the state of Michoacán, western Mexico.

The concession was awarded by the Ministry of Communications and Transportation in 2012, and expires in 2042.

Cervantes Sainz advised Promotora y Operadora de Infraestructura (Pinfra). Mayer Brown Mexico advised Cointer Concesiones México and Sociedad Michoacana de Constructores with Raúl Fernández-Briseño, Javier Garibay Güemez and Sebastián Fernández Alonso Márquez. Ochoa y Carrillo advised Sociedad Michoacana de Constructores with Antonio Carrillo García. Creel, García-Cuéllar, Aiza y Enríquez advised BlackRock with Jean Michel Enriquez D., Andrés Corcuera and Javier Gómez Morín.