Hogan Lovells has advised Intertoll Europe and Aberdeen Asset Management (Aberdeen), on the creation of a joint venture to be known as Intertoll Capital Partners. Hogan Lovells also advised Intertoll on the sale of the seed assets to the joint venture vehicle.

Intertoll Europe will hold a 50.01% interest in Intertoll Capital Partners, with Aberdeen holding a 49.99% stake. Intertoll Europe has transferred assets from its road PPP equity portfolio, comprising interests in the A1 PPP in Poland (15%) and two sections of the M6 in Hungary - Mecsek (10%) and Duna (12.67%), for ZAR 633.2 million (EUR 43 million). Johannesburg Stock Exchange listed Group Five owns Intertoll Europe.

The Hogan Lovells team advising Intertoll Europe was led by London infrastructure and energy partner Philip Brown, with associate Claire Corbett.

Commenting on the transaction, Philip said:

"Currently one of the largest private road operators in Southern Africa and Europe, we are delighted to have advised Intertoll in connection with this strategic joint venture which will act as a springboard for Intertoll and Aberdeen to co-invest in future road projects globally, including entry into new markets such as the U.S. It also reaffirms our good relationship with Aberdeen as we acted for them on some aspects of the transaction as well. We were able to draw on Hogan Lovells' capability in a number of jurisdictions across Europe to establish and seed this major development for Intertoll and Aberdeen."