BUSINESS DAY TV: ‘JV puts Group Five on a new playing field’
Group Five CEO Eric Vemer discusses the company’s latest joint venture with global infrastructure leader Aberdeen
Eric Vemer is the CEO of Group Five. BUSINESS DAY TV: Group Five is teaming up with Aberdeen Infrastructure Funds (AIF) to invest in toll roads in Europe, Turkey and North America. They’re setting up a new joint venture (JV) in which Group Five will hold a slight majority. To discuss the rationale behind the deal and the projects they hope to pursue, we’re joined on News Leader by Group Five CEO Eric Vemer. Eric ... the rationale for the deal, is it purely to use Aberdeen’s balance sheet for this expansion? ERIC VEMER: Firstly, we have an existing portfolio of assets that have two projects in Poland and two projects in Hungary, which we have been maturing well ... they’ve had a very strong value accretion over the last few years. So it’s, one, an opportunity for us to realise value on that portfolio and get cash behind those investments. And then to apply that cash in a JV with Aberdeen into new projects, and in so doing expand our portfolio of O&M (operations and maintenance) proje...
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