Hogan Lovells advises RiverRock on its investment in Euroscut Azores
Luxembourg, 08 April 2024 — Hogan Lovells Luxembourg advises RiverRock European Capital Partners LLP (“RiverRock”) on its acquisition of an 89.2% stake, alongside Horizon, in Euroscut Azores, a Portuguese shadow toll road.
Horizon, through the Horizon Equity Partners Follow-On Fund, and RiverRock, through the RiverRock Brownfield Infrastructure Fund 1, have acquired stakes of 65% and 35% respectively in a shadow toll road located in Sao Miguel Island in the Azores, Portugal, from major infrastructure company Ferrovial through its toll road division Cintra.
Euroscut Azores encompasses a 93-kilometre motorway concession, representing one of the largest infrastructures constructed in the Azores. Operational since 2011, Euroscut Azores has a concession extending until 2036.
Hogan Lovells Luxembourg has previously advised RiverRock on the investments made by RiverRock Brownfield Infrastructure Fund 1 (“RBIF1”) in Europe, including the acquisitions of Exterimmo in France; a stake in Hospital of Vigo from Concessia; a large minority stake in Eliance Holding, a leading player and provider of aerial services in critical social areas); a minority stake in Pinhal Interior sub-concession, a Portuguese availability and inflation protected PPP road); and on the sale of 80% of Iridium’s shareholdings in 11 police stations in Spain.
The Hogan Lovells team was led by partner Gérard Neiens with the incredible support of senior associate Benoit Serraf.
Please find more details on the transaction here.
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