Linklaters advises PSP on termination of Isolux infrastructure JV
Linklaters has advised PSP on the termination of the Isolux Infrastructure joint venture with Isolux Corsan.
PSP Investments is the sole shareholder of Isolux Infrastructure’s toll road business, now renamed ROADIS, which has a portfolio of nine motorway concessions in Brazil, India, Mexico, Spain and the US. PSP has also become the sole owner of 50% of the Wind Energy Transmission Texas (WETT) project - a regulated transmission provider in Texas owned by Isolux Infrastructure and Brookfield Asset Management. Isolux Corsan has become the sole owner of electric transmission lines and solar photovoltaic assets owned through its T-Solar subsidiary.
The Linklaters team was led by corporate partner Jessamy Gallagher. The team also included corporate managing associate Celyn Evans.
Jessamy Gallagher, corporate partner and Global Infrastructure Sector Leader at Linklaters, said:
“This is a successful result from which PSP can continue to grow their road investments globally. The termination has been a complex process involving over 150 approvals from different regulators, granting authorities, antitrust clearances, lenders and other financial entities in various jurisdictions such as the USA, Brazil, Mexico, Peru, India and Spain among others.”
Linklaters has advised on a number of significant road transactions in Europe in recent years, including advising on the refinancing of the M6 toll road, M25 Widening PPP Project, the €1bn A1/A6 Motorway and the €1.6bn construction of new sections of the Western High Speed Diameter bypass in St. Petersburg.