On April 28, 2011, Central Korbana S.àr.l., an entity funded by certain public sector pension plans and other government funds whose investments are managed by Alberta Investment Management Corporation (“AIMCo”), completed the acquisition of an indirect 50 per cent interest in Sociedad Concesionaria Autopista Central S.A. (“Autopista”) from Skanska Kraft AB (“Skanska”) for proceeds of approximately US$887 million.
Autopista is the owner of the PPP highway, Autopista Central, in Santiago, Chile. Closing of the transaction was conditional on, among other things, obtaining the approval of MBIA Insurance Corporation (“MBIA”) as guarantor of certain outstanding bonds issued by Autopista.
AIMCo is one of Canada's largest institutional investment fund managers, with an investment portfolio of around $69 billion.
AIMCo invests globally on behalf of its clients, 26 pension, endowment and government funds in the Province of Alberta.
Skanska is a leader in the global PPP market.
The business unit invests in, develops and operates roads, hospitals, schools, power plants and other social infrastructure in partnership with the public sector.
AIMCo was represented by Caroline Kowall, Senior Legal Consultant, and Jeff Wispinski, Legal Counsel, and by Leland Corbett, Lisa McDowell, Ben Hudy and Kyle Banbury (corporate); David Weekes and Julie D'Avignon (tax) and Gary Nachshen (pensions) of Stikeman Elliott LLP, and Kathleen Penny (tax) of Blake, Cassels & Graydon LLP.
AIMCo was also represented by José Luis Letelier, Felipe Benavides, Tomás Vidal and Pablo Menchaca (corporate) and Pedro Deutsch (tax) of Cariola Diez Pérez-Cotapos & Cía. Ltda. on Chilean law matters, Daniel Rosvall, Maria Schultzberg, Malin Helgesen and Josefin Nowén of Advokatfirman Vinge KB on Swedish law matters and by Rutger Zaal and Grégory Beltrame of Loyens & Loeff (USA) B.V. on Luxembourg law matters.
Skanska was represented by Agne Sandberg, General Counsel, and by Richard Shutran, Betty Cerini and Daniel Losk of Dewey & LeBoeuf LLP. Skanska was also represented by Roberto Guerrero, Sebastian Yunge, Gabriela Correa and Benjamín Novoa of Guerrero, Olivos, Novoa y Errázuriz on Chilean law matters and by Patrik Lilieblad, Tom Wehtje, Helena Riese and Josefin Westin of Mannheimer Swartling Advokatbyrå AB on Swedish law matters.
MBIA was represented by David Reynolds and Aaron Levy of Debevoise & Plimpton LLP and by Jorge Martín and Patricio Middleton of Claro & Cía on Chilean