DG Infra Yield acquires 80.1% in special purposes vehicle

The deal is a partnership between the French construction company EIFFAGE SA and DG Infra Yield, a special infrastructure fund raised by Gimv and Dexia Bank Belgium. EIFFAGE will become a minority shareholder, controlling 19.9% of the vehicle. The total value of the project is around €270m.

DG Infra Yield reached first close on €116m in September 2011; a second close was planned before the end of last year. More than 40% of the fund has been invested.

The all-equity investment is the first deal for DG Infra Yield in France.

Company
OPTIMEP 4 is a special purpose vehicle holding a contract for design, construction, financing and maintenance for four prisons in France. The vehicle holds a 30-year contract and was created by EIFFAGE SA. The prisons are located in Roanne, Lyon, Nancy and Beziers.

People
DG Infra managing director Yield Manu Vandenbulcke led the deal for the acquiror.

Advisers
Equity –  Salens (Legal); PricewaterhouseCoopers (Tax, financial due diligence).
Vendor – Clifford Chance (Legal).

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