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Modern bridge and road
Modern bridge and road

Roads

Roads are the most basic and one of the most used pieces of infrastructure. Developed countries recognise that road building and maintenance is vital for the continued wellbeing of their economies but also that every year new challenges arrive.

With the year-on-year increases in traffic, the drive for low carbonisation and declining government revenues, many countries are wrestling with the issue of road pricing. Ironically, as increases in traffic have outpaced road construction in the world's developing economies, we expect significant global growth in the road market over the next two decades. Developing economies often have preferences for toll roads for different reasons.

As the ownership of roads has become broader (states, construction companies and infrastructure funds all have significant portfolios), their sales have become more common, whether it is construction companies exiting due to construction having been completed and capital needing to be recycled, or financial constraints making disposals necessary. Whether the roads are toll roads, shadow toll roads or have availability based payment models, the key to efficient legal advice is a deep understanding of the market.

Allen & Overy has considerable experience advising on toll roads, bridges, tunnels and ring roads. We advise sponsors, banks and governments and other parties involved in the sector on project financings (public-private partnerships/private finance initiatives), construction, mergers and acquisitions, funding (equity and debt) and litigation.

We have experience of advising on numerous road projects globally including market-defining transactions in the UK, U.S., Europe and Central and Latin America.

News & insights

News: 09 JANUARY 2020

Allen & Overy advises Japanese banking syndicate on the financing of seven Airbus aircraft for Lufthansa

Allen & Overy advised two leading Japanese banks in connection with a Japanese operating lease transaction including a call option (JOLCO). The transaction serves to finance seven Airbus aircraft for Deutsche Lufthansa AG, including two A350-941 and five A320-271N aircraft. The total volume amounted to approximately USD 530 million.

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A&O rounds off 2019 with stellar performance in global M&A league tables

A&O has marked the end of Q4 2019 with a stellar performance in the M&A league tables; the result of advising on a number of complex, high-value transactions in a wide range of sectors and markets, around our global network in 2019. 

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News: 06 JANUARY 2020

A&O Partner David Christensen Joins U.S. Projects Team

Christensen moves to the U.S. after 7 years in A&O’s Australian offices

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News: 18 DECEMBER 2019

Allen & Overy advises Palisade on its acquisition of Snowtown 2 Wind Farm

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