IFM Investors has been awarded North America deal of the year 2015 by Infrastructure Investor and North America M&A deal of the year 2015 by IJ Global, for the acquisition and financing of Indiana Toll Road (ITR).
Last March, IFM Investors advised on the acquisition of a 100% equity interest in ITR Concession Company LLC (ITRCC), the concessionaire and operator of ITR for US$5.725 billion.
ITR is a 157-mile, divided highway in the state of Indiana. The road spans northern Indiana, from its border with Ohio to the Illinois state line near Chicago, feeding directly into two toll roads at the state lines – the Chicago Skyway in the west and the Ohio Turnpike in the east. The road forms a critical transportation link between highways leading to major east coast cities and Indiana, the City of Chicago, and the western United States. ITR is also critical to the Midwest region, which accounts for over 20% of US national GDP and is a significant origin and destination market.
This acquisition was the firm’s biggest overseas investments last year and gives investors access to core infrastructure in the world’s largest capital market.