White & Case advises Global Infrastructure Partners on €450 million investment in Superstrada Pedemontana Veneta
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Global law firm White & Case LLP has advised Global Infrastructure Partners (GIP) on a €450 million investment in secured notes of Superstrada Pedemontana Veneta (Pedemontana), a 96km greenfield toll road project in the final stages of construction in the Veneto Region of Italy.
The project is underpinned by availability payments from the investment grade rated Veneto regional government and has attracted significant focus from the Italian government as a strategic infrastructure investment critical to supporting economic growth. Pedemontana is owned and operated by SACYR S.A. and Fininc S.p.A, two leading owners and operators of European infrastructure assets.
GIP, a leading independent infrastructure investor, is making the investment through its GIP Spectrum Fund, part of its credit platform, together with affiliates and co-investors. The funds will be available through a customized delayed draw structure.
The White & Case team that advised on the transaction included partners Michael Immordino (London & Milan), Iacopo Canino (Milan) and Kamran Ahmad (London), counsel Willem Van de Wiele (Brussels) and associates Stefano Bellani, Da Sol Choi (both Milan) and Scott Goldner (Brussels).
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