Alberta Investment Management Co. (AIMCo) has agreed to buy a 50% interest in the Autopista Central Highway in Santiago, Chile, from Skanska AB for $878 million.
The six-lane highway runs 61 kilometres through central Santiago and connects the suburbs with downtown and the Pan-American Highway.
“Rapid economic growth in Latin America is creating a great need for infrastructure and we fully expect that going forward, patient and disciplined acquisitions will allow our infrastructure team to fill more of that need, while earning an attractive risk-adjusted return for our clients,” said AIMCo CEO Leo de Bever in a press release.
Abertis Infraestructuras SA (a toll operator) and Banco Santander SA comprise the rest of the highway’s ownership.
The deal is expected to be completed by Q2 at the earliest.