Brookfield Acquires 45 Percent of Chilean Highway Operator from Hochtief for EUR230 Million (Latin America)

Source: Hochtief AG

German construction firm Hochtief AG has sold a 45 percent stake in Chilean toll highway operator Vespucio Norte Express (VNE) to a consortium led by Brookfield Infrastructure Partners for EUR230 million (US$290 million). VNE, in operation since January 2006, was developed by Hochtief under a BOT (build, operate, transfer) contract approved by the Chilean Ministry of Public Works in 2001. Brookfield acquired 55 percent of VNE as well as 50 percent of the San Cristóbal tunnel, also in Chile, for US$330 million in December 2011.