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| BAM PGGM and OFI InfraVia acquire majority interests in A8 German motorway BAM PPP PGGM Infrastructure Cooperatie (the joint venture between BAM PPP and the Dutch pension fund service provider PGGM) and OFI InfraVia announce their acquisition of 50% and 25% respectively of the economic interests in the concession rights associated with the A8 A-model project (the 'A8') from BAM PPP (25%), Fluor Infrastructure (25%) and VolkerWessels Deutschland (25%). The final 25% remains held by Egis Investment Partners (19%) and Berger Bau (6%). The 30 year project which was the first of the A-Model projects in Germany to reach financial close in 2007 reached completion of the widening to six-lanes in 2010, and involves the operation and maintenance of the section of the A8 Federal motorway between Augsburg and Munich. The concession revenues are based on the number of HGV using the motorway section, and the corresponding toll revenues collected by Toll Collect GmbH, the operator of HGV distance-based toll system applicable on German federal motorways. The motorway is operated by a special purpose company autobahnplus Services GmbH under the leadership of Egis Road Operation (56%) together with Wayss & Freytag (16%), VolkerWessels Deutschland (16%) and Berger Bau (12%). For the BAM PGGM JV this transaction continues the Royal BAM strategy of structured divestment to realise some of the underlying value in its portfolio of PPP projects while providing PGGM with access to immediately yielding assets and long-term inflation-linked returns both of which are attractive features for its clients. write your comments about the article :: © 2013 Construction News :: home page |