HICL Infrastructure has paid £34.4 million ($46 million) to Abertis Infraestructuras for a 33.3 percent interest in Road Management Group (RMG).
RMG is a holding company for two 30-year shadow toll road concessions in the United Kingdom. Shadow toll roads are per-vehicle amounts paid to a facility operator by a third party, such as a sponsoring governmental entity, and not by facility users.
The two roads are strategically located and benefit from extensive traffic history, which significantly de-risks the variable component of revenue. HICL, which is managed by InfraRed Capital Partners, said the investment will be funded through its revolving credit facility.
“We are delighted to be acquiring a stake in two high-quality U.K. road projects which provide critical transport links to their respective communities,” said Edward Hunt, director at InfraRed. “Both projects have predictable revenues, have been acquired on an ungeared basis, and are expected to be
