Ried Fabres has advised Bci Asset Management Administradora General de Fondos S.A. in relation with an indirect investment in a highway project managed by Peruvian group Graña y Montero, who specialize in engineering, construction, infrastructure and real estate matters. The transaction closed on June 12th.
Bci NV Investment Fund, an investment fund managed by Bci Asset Management, acquired part of the future economic rights the equivalent of 48.8% of Norvial S.A.’s shares, a company belonging to Graña y Montero, which manages the Ancón-Huacho-Pativilca stretch of the Panamerican highway, also called Red Vial no.5 in Peru.
This is the first time that a Chilean investment fund has made an investment in a highway outside of Chile. The operation will allow Graña y Montero to continue its plan to reduce financial liabilities; while the agreement stipulates that the Peruvian company will continue to be in charge of the management, maintenance and operation of the highway concession.
Ried Fabres acted as Chilean counsel and Phillippi Prietocarrioza Ferrero DU & Uría as Peruvian counsel to Bci Asset Management. Payet, Rey, Cauvi, Pérez Abgados served as counsel to Graña y Montero.
Ried Fabre’s team was made up of partner Cristián Fabres and associates Ricardo Abogabir and Christian Schiessler.