Milbank LLP is advising Actis, a leading growth markets investor in sustainable infrastructure, in connection with its agreement to acquire a portfolio of operational toll roads in Colombia from Sacyr with a total transaction value of US$1.6 billion. The investments will come from Actis’ Long Life Infrastructure Fund 2 (ALLIF2) and mark the launch of Actis’ first Latin American toll roads platform.
The portfolio, which totals 416km of roads, consists of three toll roads in Northern and Western Colombia. Actis will acquire 100% of the Pamplona-Cucuta toll road, a 123km road completed in November 2024; a controlling stake in the 112km strategic Rumichaca-Pasto highway completed in 2023 connecting Colombia with Ecuador; and a co-control stake in Autopista al Mar 1, a 181km toll road connecting Colombia’s second largest economic hub with the Caribbean coast that was completed in 2023. Actis will acquire 100% of Sacyr’s stake for all three assets, which each have long-term concessions running until the mid-2040s.
The Milbank team was led by Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini and Global Corporate/M&A partners Aaron Stine and Daniel P. Tyrrell. The team also included Global Corporate/M&A associate Christina Sonageri; Global Project, Energy and Infrastructure Finance partner Roland Estevez and associates Ana Bueno, Sofia Duclaud and Natália d'Avila; and Structured Credit partner Elizabeth A. Martinez.
