Hunton Andrews Kurth advised Plenary Group and Sacyr S.A. on the deal.
Plenary Group (“Plenary”) and Sacyr S.A. (“Sacyr”) announced their acquisition ofa 50-year lease and concession of the district utility system owned by the University of Idaho (the “University”).
The deal closed on December 30, 2020 and included the financing of a $225 million upfront payment to the University by the concessionaire organized by Plenary and Sacyr.
The deal is the third of its kind to close in the United States and is part of a trend among universities to rely on private infrastructure investors for the rehabilitation of their legacy utility systems, while generating upfront funds for higher education.
The Hunton Andrews Kurth team was led by partners David B. Horner (Picture) and James W. Head.
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