Kochanski Zieba & Partners advise Aberdeen Infrastructure Funds on a strategic partnership with Intertoll

Kochanski Zieba & Partners (KZP) has advised Aberdeen Asset Management’s Infrastructure Funds (AIF) on its acquisition of a 49.99% stake in Intertoll Europe’s PPP portfolio for ZAR 633.2 million (EUR 43 million).

The portfolio comprises of shares in the A1 PPP in Poland (15%) and two sections of the M6 in Hungary, Mecsek (10%) and Duna (12.67%). The investment in Poland revolves around Intertoll’s 15% stake in the Gdansk Transport Company (AmberOne) which was established in 1996 to construct, maintain and manage a 152km stretch of the A1 motorway between the cities of Gdansk and Torun.

The assets will be held in a joint venture vehicle, which will be named Intertoll Capital Partners. JSE-listed Group Five, Intertoll Europe’s parent company, will continue to hold 50.01% of the portfolio. The arrangement will allow both parties to invest in road projects.

Aberdeen Asset Management was formed in 1983, and operates in 25 countries, managing £312.1 billion of assets, and has been listed on the London Stock Exchange since 1991.

KZP worked alongside the London and Paris offices of Pinsent Masons LLP on all Polish aspects of the transaction including due diligence.

KZP’s team was led by Pawel Cholewinski (Partner), Pawel Gunia (Partner) and Adam Piwakowski (Partner), and comprised Kacper Czubacki (Associate) on corporate matters, and Sylwia Uzieblo-Kowalska (Senior Associate) on infrastructure issues.

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