HICL Infrastructure, a London-listed company owned by InfraRed Capital Partners, is looking to pay €41 million ($47 million) for the remaining stake in a stretch of the Atlantic Motorway in west Ireland. The seller is Marguerite I Fund.
The M17/M18 motorway is a toll-free highway that links the towns of Gort and Tuam in Galway. Part of the Atlantic Corridor, the motorway combines three road schemes totaling about 57 kilometers (35 miles) in length.
HICL Infrastructure currently owns the other 50 percent stake in the project. The company acquired its initial 10 percent stake in the 28-year concession in 2014 and paid €23 million ($26 million) to add an additional 40 percent in 2019, according to The Irish Times.
According to Arup, The M17/M18 motorway is designed to improve journey times, bypassing several traditional traffic choke points such as Tuam, Claregalway and Clarinbridge. It was procured as a public-private partnership (P3) and designed by
