Linklaters has advised PSP on the termination of the Isolux Infrastructure joint venture with Isolux Corsan.

PSP Investments is the sole shareholder of Isolux Infrastructure’s toll road business, now renamed ROADIS, which has a portfolio of nine motorway concessions in Brazil, India, Mexico, Spain and the US. PSP has also become the sole owner of 50% of the Wind Energy Transmission Texas (WETT) project - a regulated transmission provider in Texas owned by Isolux Infrastructure and Brookfield Asset Management. Isolux Corsan has become the sole owner of electric transmission lines and solar photovoltaic assets owned through its T-Solar subsidiary.

The Linklaters team was led by corporate partner Jessamy Gallagher. The team also included corporate managing associate Celyn Evans.

Jessamy Gallagher, corporate partner and Global Infrastructure Sector Leader at Linklaters, said:

“This is a successful result from which PSP can continue to grow their road investments globally. The termination has been a complex process involving over 150 approvals from different regulators, granting authorities, antitrust clearances, lenders and other financial entities in various jurisdictions such as the USA, Brazil, Mexico, Peru, India and Spain among others.”