GLIL welcomed as new long-term partner at M6toll
A quarter interest in the M6toll has been bought by an investor.
GLIL Infrastructure– a partnershipo of UK pension funds– has acquired the indirect 25 per cent interest from Aleatica, a subsidiary of the IFM Global Infrastructure Fund.
IFM GIF has been invested in M6toll since 2017 and will continue to indirectly own 75 per cent of the company.
The 27-mile motorway is a dual three-lane carriageway from Cannock to Coleshill.
It functions as a congestion relief road for the toll-free M6, and nearby A5, A38, and A446 roads.
IFM is in the process of integrating M6toll into the increasingly global transportation infrastructure portfolio of Madrid-based Aleatica, a global toll road operator.
In recent years, a number of strategic initiatives have been undertaken to improve the road for the motorists who use it every day and have contributed to the M6toll being named Britain’s best motorway among heavy vehicle drivers.
This includes the Road Ahead capital programme, which will see investments in digital technologies to maintain the road as a world class tolling system, enhance the user experience, and improve time efficiencies throughout the toll network.
Joaquin Gago, Europe regional director at Aleatica, said: “We warmly welcome GLIL Infrastructure as our partner in this vital piece of UK infrastructure. As we seek to grow our portfolio of assets in Europe, we look forward to benefitting from the expertise of long-term infrastructure investors, such as IFM and GLIL, over the coming years as we support the extensive capital programme for M6toll to the benefit of all motorists.”
Lee Belfield, investment lead at GLIL Infrastructure, said: “We are delighted to form a partnership with IFM and Aleatica, two experienced infrastructure investors with proven sustainability credentials. For GLIL Investors, the M6toll offers long-term, asset-backed cash flows and further diversifies the portfolio into road infrastructure, an essential part of UK economic growth.”
Aleatica, founded in 2018, has annual revenues of around £700 million and about 3,000 employees. The company operates solely as a transport infrastructure operator and manages 20 concessions – 16 highways, two ports, one light railway line and 1one airport – across seven countries in Europe and Latin America.