White & Case Advises Atlas Arteria on Its US$2 Billion Acquisition of a Majority Stake in Chicago Skyway

Press Release
2 min read

Global law firm White & Case LLP has advised Atlas Arteria Limited (Atlas Arteria) on its acquisition of a 66.67 percent majority interest in Chicago Skyway, a 12.5-km toll road with 81 years of remaining concession life that provides congestion relief in an essential transportation corridor, for an equity value of US$2.01 billion. Canada Pension Plan Investment Board (CPP Investments) and OMERS Infrastructure have sold their respective 33.33 percent stakes. The deal establishes a partnership between Atlas Arteria and Canadian pension fund manager, Ontario Teachers' Pension Plan, one of the world's leading infrastructure investors, which retains its 33.33 percent interest in Chicago Skyway.

Atlas Arteria is a global owner, operator and developer of toll roads, with a portfolio of toll road businesses in France, Germany and the United States. The roads that Atlas Arteria owns, operates and develops benefit communities through reduced travel time, greater time certainty, and reduced fuel consumption and carbon emissions.

The White & Case team that advised on the transaction was led by partners Dolly Mirchandani and Adam Cieply in New York; and included associates Evelyn Balassiano (Project Development and Finance), Morgan Somerset and Yian Wang (M&A), partner David Dreier and associate Ilan Har-El (Tax), partner Tal Marnin and counsel Kenneth Barr (Employee Compensation & Benefits), partner Seth Kerschner (Environmental), partner Burr Eckstut and associate Anthony Johnson (Intellectual Property), and associate Cassandra Calderon (Antitrust) in New York; associate Sadi Moradi (Employee Compensation & Benefits) in Houston; partner Rebecca Farrington, associate Heather Greenfield (Antitrust), partner Paul Pittman and associate Mark Williams (Data, Privacy and Cybersecurity) in Washington, DC; partner David Pezza and associate Emily Pope (Real Estate) in Chicago; partners Axel Schulz and Strati Sakellariou-Witt (Antitrust) in Brussels; and partner Jérémie Marthan (Antitrust) in Paris. International law clerk Ana Louise O'Sullivan (Project Development and Finance) and law clerk Anthony Mahler (M&A) also assisted the team on this matter.

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