everbright overseas infrastructure investment fund acquires boreal holding as
everbright overseas infrastructure investment fund (“the fund”) has entered into an agreement with cube infrastructure fund (“cube”) to acquire boreal holding as (“boreal”). the management team will remain with boreal.
boreal is one of the largest players in the norwegian public transport market, operating tenders granted by local norwegian public transport authorities in 4 segments: bus, car ferry, fast ferry and light rail. the group enjoys strong infrastructure characteristics operating attractive, index-linked, mid to long-term contracts with public authorities across norway.
mr. chen shuang jp, china everbright limited (“cel”; stock code: 165.hk)’s executive director and chief executive officer said: “norway is one of the wealthiest countries in the world, and is pivotal along the arctic ice silk road. the transaction marks the fund’s first buyout move in the infrastructure sector in northern europe. boreal has a rich history with outstanding capability in providing quality transportation services to the residents of norway, whilst upholding its core values, in particular safety, quality and environmental friendliness. boreal’s success in the past years underpins its strong business momentum going forward. we look forward to partnering closely with the management team, and introducing boreal’s cutting-edge clean energy technology application in public transportation into china, as well as assisting chinese clean energy players in adapting to international standards .”
jérôme jeauffroy, managing partner at cube infrastructure managers, commented: “boreal has an outstanding track record of operating essential transport infrastructure assets and serving passengers on behalf of public transport authorities. boreal is now well positioned to further grow under the new stewardship of the fund”.
closing of the transaction is expected in the second quarter of 2018.
cube was advised by dla piper (legal) and morgan stanley (financial advisor), and the fund was advised by clifford chance and advokatfirmaet bahr as (legal).
