Transaction marks the largest PE deal of the year so far

Alberta Investment Management Corporation (AIMCo) has announced the sale of its 50% stake in Autopista Central de Chile, a Santiago-based toll road infrastructure asset, to Abertis Infraestructuras SA (Abertis) for EUR948 million.

Allen & Overy is advising AIMCo on this transaction, with a team led by Corporate Private Equity partner Stephen Lloyd, with assistance from associates Oscar Mitchell and Tom Jokelson. The team has previously advised AIMCo on two transactions where it co-invested with OMERS Private Equity; first in 2013 when the pair acquired Vue Entertainment International from Doughty Hanson in 2013 for GBP 935m, and most recently, in 2015 when AIMCo and OMERS acquired Environmental Resources Management (ERM) for USD1.7 billion.

Stephen Lloyd, Corporate Private Equity partner at Allen & Overy, commented: “In recent years, AIMCo has become a significant player in both private equity and infrastructure deals worldwide and we are delighted to have advised them on one of their largest and most successful exits.

“This deal highlights AIMCo’s strong ability to work closely and collaboratively with management to generate value. When you consider the traditional life cycle of infrastructure assets, AIMCo has managed to do that in a relatively short time scale,” he adds.

A&O has been ranked as the top legal adviser for European private equity buyouts in 2015 by Dealogic M&A Analytics both by deal count and deal volume. Standout deals for A&O include:

* Exponent Private Equity’s GBP550 million sale of Quorn Foods to the Monde Nissin Corporation
* PAI Partners' proposed EUR3 billion joint venture between R&R Ice Cream and Nestlé
* Omers Private Equity and AIMCo’s USD1.7bn acquisition of ERM from Charterhouse Capital Partners.