STRABAG and Meridiam’s Financing of A49 PPP High-Way Project

Heuking Kühn Lüer Wojtek advised STRABAG Infrastrukturprojekt GmbH and Meridiam Investments SAS.

Meridiam and STRABAG successfully reached financial close for the A49 motorway.

The project, which was awarded by DEGES Deutsche Einheit Fernstraßenplanungs- und -bau GmbH for a thirty-year period commencing on September 1, 2020, comprises the four lane construction of a 31 kilometer long section of the A49 motorway in Hesse between Schwalmstadt junction and Ohmtal interchange, as well as the design, proportionate financing, operation and maintenance of a section of the motorway spanning approx. 62 kilometers between Fritzlar junction and the Ohmtal interchange (A5/A49).

The comprehensive financing agreements were concluded on August 21, 2020. Debt financing for the total investment sum of around EUR 1.3 billion is being provided by KfW IPEX-Bank (Germany), the European Investment Bank (EIB), MEAG (Germany), KBC Bank NV, Niederlassung Deutschland, and CSOB (Czech Republic) through a combination of short-term and long-term project finance as well as a long-term bond financing.

The project held equally (50:50) between Meridiam and STRABAG, consists in the design, financing, construction, operation and maintenance of the A49 motorway section (62 km long with a mix of greenfield construction and an existing section). It is located in the German State of Hesse, between the junction Fritzlar (South of Kassel) and the junction Ohmtal-Dreieck (North of Frankfurt).

The STRABAG Group’s international activities executed by its subsidiaries STRABAG International GmbH and ZÜBLIN International GmbH comprise Transportation Infrastructures (roads, railways, airports and test tracks for the automobile industry), Building Construction (turnkey construction, industrial facilities) and Civil Engineering (bridges, dams, hydraulic asphalt engineering, tunnelling, pipe jacking and microtunnelling, cooling towers and harbour facilities).

Since 1981, Meridian Investments has provided tax-advantaged investment opportunities to over 200 satisfied corporate clients. Over the years, our affiliates have completed over $20 billion in tax-advantaged investment transactions.

The Heuking team was led by Sandra Pfister (Picture) and included Dr. Thorsten Kuthe, Michael Neises, Dr. Kai Erhardt, Christopher Görtz, Irene Braunagel, Michèle von Lewinski and Beliardis Ehlert-Gasde.

Involved fees earner: Irene Braunagel – Heuking Kühn Lüer Wojtek; Beliardis Ehlert-Gasde – Heuking Kühn Lüer Wojtek; Kai Erhardt – Heuking Kühn Lüer Wojtek; Christopher Görtz – Heuking Kühn Lüer Wojtek; Thorsten Kuthe – Heuking Kühn Lüer Wojtek; Michael Neises – Heuking Kühn Lüer Wojtek; Sandra Pfister – Heuking Kühn Lüer Wojtek; Michèle von Lewinski – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: Meridiam SAS; STRABAG Infrastrukturprojekt GmbH;