PSPEUR and Isolux (GIC Group) - Project Insomnia

Demarest has advised PSPEUR in the submission of the dissolution of the joint venture Isolux Infrastructure Netherlands B.V to the review of Brazil's antitrust authorities.

The transaction concerns the dissolution of the joint venture Isolux Infrastructure Netherlands B.V, owned by  PSPEUR S.ár.l ("PSPEUR") and Grupo Isolux Corsán Concesiones S.A. ("GICC").

PSPEUR is an indirect subsidiary of the Public Sector Pension Investment Board ("PSPIB"), a Canadian Crown corporation established by the Canadian Parliament under the Public Sector Pension Investment Board Act to invest the employer and employee net contributions. GICG is a subsidiary of Grupo Isolux Corsán S.A. (“GIC”), and it is active in the construction and operation of highways and in the installation, operation and maintenance of electricity transmission lines.

The transaction was unconditionally approved by CADE on October 20, 2015.

Under the perspective of GICC, the dissolution of Isolux allows the company to focus on its expertise area, which is the energy business. For PSP, the transaction represents a good opportunity to invest in the road business.

Lead partner from Demarest: 

Paola Regina Petroziello Pugliese (Competition & Antitrust)

All the Demarest's lawyers:

Paula Salles (Competition & Antitrust)

Mariana LLamazalez (Competition & Antitrust, intern)

The transaction will be submitted to the competition authorities in Mexico, United States of America and Spain.