Orrick Client IFM Investors Completes Acquisition of Indiana Toll Road Concession Company

06.10.15

A multidisciplinary Orrick team advised IFM Investors Pty Ltd (IFM), on behalf of IFM Global Infrastructure Fund, in its $5.72 billion acquisition of 100% of the membership interests of ITR Concession Company (ITRRCC), a wholly owned subsidiary of Statewide Mobility Partners, a Cintra / Macquarie joint venture. Completion of the acquisition was announced on May 27, 2015.

ITRCC operates and maintains the Indiana Toll Road, a 157-mile highway running across Indiana, and also holds an exclusive right to collect revenue from the toll road under a long-term lease and concession arrangement with the Indiana Finance Authority. The investment, which is IFM's second investment in North American toll road infrastructure in 2015, becomes the thirtieth infrastructure asset and the fourth toll road in IFM’s current portfolio.

For Orrick’s press release announcing the acquisition, please see here.

The Orrick team was led by partners Dan Mathews and Young Lee of the Energy & Infrastructure group, King Milling, Tal Hacohen and Stephen Ashley of the Corporate group, Lorraine McGowen of the Restructuring Group, Mitchel Pahl of the Compensation & Benefits group, and Wolfram Pohl of the Tax group.