When thousands of European football fans converge on Poland and Ukraine for the 2012 UEFA European Football Championship, known as EURO 2012, they’ll arrive via the new A2 toll motorway segment funded and constructed with agreements negotiated by global law firm Squire, Sanders & Dempsey L.L.P.
“This is a historic project in several ways,” said lead Squire Sanders partner Peter Swiecicki. “Apart from being partially funded by the largest-ever EIB loan to Poland, the €1.6 billion total project cost is believed to be one of the largest ever in Poland, and the motorway is the largest project to be built in Poland in preparation for EURO 2012 and the largest single order in the history of Strabag, the construction company that will build the roadway segment.”
Squire Sanders was co-counsel with Baker & McKenzie for Autostrada Wielkopolska II SA (AWSA II), a special purpose vehicle established to build and operate the stretch of A2 motorway between Świecko on Germany’s border and Nowy Tomyśl near Poznań. The new east-west motorway stretch will complete 358 km (222 miles) of the A2, which is part of the Trans-European Transport Network (TEN-T).
Squire Sanders advised AWSA II on a €1 billion finance contract with the European Investment Bank (EIB),representing about 60 percent of the total project cost. Additional financing of €400 million and PLN 150 million came from a credit agreement with 13 commercial banks, as well as equity commitments of €184 million. Negotiations also involved the concession contract with Poland’s government, the construction contract worth nearly €1.3 billion and a long-term operating contract. AWSA II’s concession lasts until 2037.
“This is a landmark endeavor for our client AWSA II, a major project for Poland and Ukraine, and a huge honor for us at Squire Sanders to be able to play a part,” Swiecicki said.
In addition to Squire Sanders and Baker & McKenzie as co-counsel to AWSA II, other advisers were Calyon and Deutsche Bank as AWSA II financial advisers, Wierzbowski Eversheds and PricewaterhouseCoopers for Poland’s government, Clifford Chance for the EIB and Allen & Overy for the commercial banks.
About Squire Sanders: Founded in 1890, Squire, Sanders & Dempsey L.L.P. has lawyers in 32 offices and 15 countries around the world. With one of the strongest integrated global platforms and a longstanding one-firm philosophy, Squire Sanders provides seamless legal counsel worldwide.
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