Northwest Parkway Acquisition Agreed
The sale purchase agreement for Northwest Parkway acquisition in Colorado was signed on December 2, 2016.
A consortium of HICL Infrastructure Company Ltd, DIF Infrastructure IV, and Northleaf Capital Partners has agreed to acquire Northwest Parkway in Colorado. Each investor has agreed to take an equal stake in the road project.
Brisa, a Portuguese toll-road operator, had originally entered into an agreement with the Northwest Parkway Public Highway Authority, which involves the operation and maintenance of a 14km section of the beltway system in the Denver region. The road, which opened in 2003, has strong traffic history and connects with several toll and non-toll highways, including E-470, I-25, US 36 and US 287, providing convenient access to residential and commercial centres in the region. Revenues are generated by tolls through an all-electronic tolling system. The counterparty to the concession is the Northwest Parkway Public Highway Authority.
Second round bids took place in November 2016, and as part of this Operis provided financial modelling and advisory services to the successful consortium.