DIF Infrastructure V (DIF) has entered into a definitive agreement to acquire a 100 percent equity interest in American Roads. The company is being sold by an affiliate of Syncora Guarantee Inc., a wholly owned, New York financial guarantee insurance subsidiary of Syncora Holdings.
Headquartered in Detroit, American Roads operates a diversified portfolio of five toll road assets, comprising four owned toll bridges in Alabama and, pursuant to a long-term lease agreement, the U.S. side of the Detroit-Windsor Tunnel, a subaqueous international tolled tunnel between Detroit and Windsor, Ontario.
American Roads’ management team provides management services for American Roads including operations, maintenance, engineering and administrative services.
The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2018.