iCON Infrastructure in its agreement to acquire Capstone Infrastructure for $480 million

On January 20, 2016, Irving Infrastructure Corp., a subsidiary of iCON Infrastructure Partners III, L.P., a fund advised by UK-based iCON Infrastructure LLP, entered into a definitive arrangement agreement with Capstone Infrastructure Corporation. iCON Infrastructure is an independent investment firm focused on investments in infrastructure businesses across Europe and North America with over €1 billion under management.

The agreement provides for the acquisition of all issued and outstanding common shares of Capstone and Class B exchangeable units of Capstone’s subsidiary MPT LTC Holding LP for $4.90 cash per share or unit, as applicable. The acquisition will be completed by way of a plan of arrangement under the British Columbia Business Corporations Act. The total equity value of the transaction is approximately $480 million.

Osler is representing iCON with a team led by Christopher Murray and included Alex Gorka, Justin Dharamdial, Daniel Fombonne and Michele Qu (Corporate); Joyce Bernasek and Marta Rochkin (Financial Services); Jacob Sadikman, Elliot Smith and Marissa Kirsh (Construction); Firoz Ahmed and Drew Morier (Tax); Peter Glossop and Kaeleigh Kuzma (Competition).