Jan 21, 2016

AIMCo Announces Sale of Autopista Central Toll Road in Chile

Edmonton, Alberta, Canada (January 21, 2016) Alberta Investment Management Corporation (“AIMCo”) is pleased to announce the successful divestment of its 50% interest in Autopista Central de Chile, a Santiago-based toll road infrastructure asset, on behalf of certain of its clients, to Abertis Infraestructuras SA (“Abertis”) for € 948 million (approximately CAD 1.5 billion).

The sale of Autopista Central represents the culmination of a very successful private investment for AIMCo and a demonstration of its ability to manage this unique asset through the investment life cycle. This mutually beneficial transaction further provides a unique opportunity for Abertis to consolidate its interests under its Chilean Road Portfolio, furthering its current strategy.

Autopista Central is a 61-kilometer, six-lane highway in Santiago that went into operation in 2007. AIMCo acquired a 50% stake in Autopista Central de Chile in December 2010, on behalf of certain of its clients, joining a consortium of companies with 100% ownership of Autopista Central SA unit, a Santiago-based provider of toll roads operations services. The consortium, now solely-owned by Abertis, holds the concession until 2031.

“AIMCo has enjoyed working with the strong management team of Autopista Central and our partner Abertis over the last five years,” says Ben Hawkins, Senior Vice President, Infrastructure & Timberlands at AIMCo. “Autopista Central has one of the best management teams in the industry, and the acquisition will allow Abertis to achieve further synergies and benefits to its portfolio. We are happy to have been an owner of this important piece of infrastructure to Santiago, and remain committed to investing further in Chile given the right opportunities.”

AIMCo Chief Executive Officer, Kevin Uebelein, states further, “Today’s transaction realizes excellent gains for AIMCo’s clients. Our talented and capable team of Infrastructure investment professionals maximized the value of this asset through each stage of the investment lifecycle as evidenced by this outcome.”