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growing economies
Energy, Transport
CPCS Transaction Advisory Services
We Are Your Trusted Infrastructure Transaction Advisor
Today, public and private sector decision makers the world over are faced with challenging decisions that can represent
transformative opportunity or untenable risk. More than ever, hiring a trusted transaction advisor with a proven track
record is essential to harnessing the full potential of these complex transactions.
The CPCS Transaction Advisory Team has advised Governments in over 80 countries on how to increase private sector
participation in infrastructure. Our Team is renowned for our role as lead transaction advisors for engaging the private
sector in the sale of shares, lease or concession transactions (including build-operate-transfer (BOT), build-own-operatetransfer (BOOT) and build-own-operate (BOO) projects) in the energy, port, marine, rail, urban transit, automotive,
agricultural and revenue collection sectors.
Our experience advising both public and private sector clients combined with our broad in-house expertise has made
CPCS a trusted advisor to governments, public institutions and private sector investors interested in pursuing infrastructure PPP opportunities.
www.cpcs.ca
Transaction advisory services for the public sector to engage private investors
Bid management services for Investors
Identifying optimal capital structures and financing strategies for PPP projects
Securing financing for infrastructure projects
Valuation and business modelling
Energy
Value of
Transaction
(US$ million)
Year of
Close
Privatisation of Afam Power
Plc. Generation Company
260 (est.)
Ongoing
Privatisation of Kaduna
Electricity Distribution
Company
163 (est.)
Ongoing
Privatisation of Sapele Power
Plc. Generation Company
201
2014
Privatisation of 4 Generation
Companies created out of the
Power Holding Company of
Nigeria (PHCN)
781
2013
Project
Country
Nigeria
Services Provided
This is the largest electricity unbundling and privatisation/PPP and reform
project to be undertaken in Africa.
CPCS worked hand-in-hand with the Federal Government as its transaction
advisor in every aspect of this sale. CPCS carried out the due diligence
review, developing detailed privatization plans for each of the successor
companies. We also advised on and assisted in implementing various reform
measures to the electricity sector of Nigeria to support the new commercial
framework, including the drafting of Power Purchase Agreements,
Transmission Agreements and Performance Agreements to allow the
government to monitor the long term performance of the private sector
and ensure they maintain their investment commitments. CPCS was
responsible for administering the entire privatisation transaction, including
responding to thousands of investor inquiries, evaluating proposals
received, leading the negotiations with preferred bidders, and assisting the
government in completing the sale and handing over companies to the
private investors.
6 Generation Companies: Geregu Power Plc., Ughelli Power Plc. , Kainji
Hydro Electric Plc., and Shiroro Hydro Electric Plc, Sapele Power Plc. And
Afam Power Plc.
Privatisation of 10 Distribution
Companies created out of the
Power Holding Company of
Nigeria (PHCN)
www.cpcs.ca
1,256
2013
11 Distribution Companies: Abuja Electricity Distribution Company, Benin
Electricity Distribution Company, Eko Electricity Distribution Company,
Enugu Electricity Distribution Company, Ibadan Electricity Distribution
Company, Ikeja Electricity Distribution Company, Jos Electricity Distribution
Company, Kaduna Electricity Distribution Company, Kano Electricity
Distribution Company, Port Harcourt Electricity Distribution Company, Yola
Electricity Distribution Company
Energy
Project
Privatisation of 10 National
Integrated Power Project
(NIPP) Generation Companies
Privatisation of Egbin Power
Plc. Generation Company
Value of
Transaction
(US$ million)
Year of
Close
Country
Services Provided
>5,500
Ongoing
Nigeria
CPCS is providing advice on the transaction process covering issues of EOI
and RFP, conducting investor market sounding studies and promoting the
project through road shows. CPCS is also assisting with bidders responses
and in the selection of preferred bidders, developing the transaction
document and in the closure and handover of the facilities to the new
owners.
407
2013
Nigeria
CPCS was contracted by the Bureau of Public Enterprises in order to provide
advisory services on the finalisation and handover of facilities to the
Preferred Bidder, Korean Electricity Power Resources Ltd., identified in 2007
as part of a procurement exercise.
Year of
Close
Country
Services Provided
Ongoing
Philippines
CPCS is lead advisor to establish the viability of the MVIS Project as a PPP
project under the BOT Law of the Philippines, and assuming viable, to
prepare bid/tender documents and provide transaction advisory support
during the bidding process until financial close of the project.
Energy Total: $8.5 billion
Other
Project
Transaction Advisory for
Motor Vehicle Inspection
System (MVIS) Project
www.cpcs.ca
Value of
Transaction
(US$ million)
TBD Project
ongoing
Rail
Value of
Transaction
(US$ million)
Year of
Close
Country
Services Provided
Integrated Luzon Railway
Transaction Advisory Project
TBD Project
ongoing
Ongoing
Philippines
CPCS is the lead transaction advisor to undertake pre-investment studies to
assess the feasibility of rehabilitating the Integrated Luzon Railway as a PPP
project; to optimally structure the project as a PPP and provide transaction
support through the tender and negotiation processes.
LRT1 Extension to Dasmarias,
Cavite Transaction Advisory
Project
TBD Project
ongoing
Philippines
CPCS is the lead Transaction Advisor for this project and currently working
to determine the viability of the LRT1 as a PPP Project under the BOT Law of
the Philippines. If the LRT1 is determined to be viable as a PPP, CPCS will
assist the Government of Philippines in all stages of the implementation of
the PPP up to and including final negotiations with the successful bidder to
transaction closure.
Jordan
CPCS is the lead advisor on this project to prepare and implement a PPP
transaction to develop and operate a national railway network in Jordan.
The assignment is divided into three main phases: (i) Transaction
Preparation, (ii) Transaction Implementation and, (iii) Support to
Transaction Negotiations.
Project
Transaction Advisory Services
for the Development of a
National Railway Network via
PPP
Lagos Light Rail Mass Transit
Blue Line Design-Build and
PPP Concession
Transaction Services for
Implementing Armenian
Railway Concession
Transaction Advisor for the
Concessioning of the Tanzania
Railways Corporation
www.cpcs.ca
TBD Est.
$2.8 Billion
Ongoing
Ongoing
Est. $2 Billion
Ongoing
Nigeria
CPCS was retained by the local implementing agency to provide transaction
advisory services for this proposed urban rail mass transit line the Blue
Line. CPCS designed a procurement strategy for Design/Build contractors
and a PPP strategy for the operating concessionaire. CPCS will assist with
negotiation with the successful bidders.
150
2008
Armenia
CPCS was retained to advise the Government of Armenia on the PPP
concessioning of the state-owned Railway. CPCS assisted the Government
throughout negotiations and asset handover.
Tanzania
CPCS provided legal, commercial, rail management and investment banking
advisory and support services to the Government in carrying out the
transaction to concession the TRC rail operations. The Concession was
successfully awarded for a period of 25 years however the concession,
51% owned by Rites of India, has experience problems due to severe
weather damage to the track. The Government of Tanzania, 49% owners of
the concession, continues to be involved in the operations of the railway.
2,500
2007
Rail
Value of
Transaction
(US$ million)
Year of
Close
Country
Services Provided
Development of AmmanZarqa Light Rail BOT
300
2008
Jordan
CPCS was lead advisor to assist with attracting investors to build, operate
and transfer a light rail system in Jordan. This was the first urban rail PPP to
reach commercial close in the Middle East.
Concession and Restructuring
of the Nigerian Railway
380
2007
Nigeria
CPCS was engaged as Lead Advisor for the introduction of PPP in the Nigeria
Railway Sector. CPCS assisted the Government in negotiating and closing
the concession for the Central Railway Line.
Project
Transaction Advisor for
Concession of the Dakar Bamako Railway
620
2006
Senegal & Mali
CPCS was lead Transaction Advisor for the development and
implementation of the concession of the Dakar - Bamako international
railway corridor. CPCS formulated an analysis of the various concession
structures available and recommended the preferred concession strategy.
CPCS oversaw the finalization of the transaction including negotiations with
the selected bidder.
Transaction Advisor
Concession of Zambia
Railways
480
2004
Zambia
The Zambia Privatization Agency appointed CPCS to recommend the PPP
strategy, prepare the railways for privatization, and manage the concession
transaction. CPCS assisted the Government of Zambia in successfully closing
the Zambia Rail Concession in 2004.
Uganda
CPCS assisted the potential private operator to prepare a detailed business
plan for the operation of Uganda Railways under a concession structure.
We developed a detailed financial and railway operating model and
prepared a series of plans for the potential private operator: staffing and
management plan, train operating plan, marine operating plan, mechanical
and civil maintenance plans, and investment plan.
Malawi
CPCS reviewed the legal and regulatory environment, determined the level
of regulation required for the railway, and developed the appropriate
regulatory structures and policies enabling the existence of a privatized
railway. CPCS also identified possible models for regulation of the private
rail operator. CPCS developed a privatization strategy and implementation
action plan. We trained key stakeholders on the execution of the
implementation plan and recommended the most desirable option for
privatization based on the GOM criteria.
PSP Study & Business Plan
Development for Uganda
Railway Corporation
Implementation of a
Concession Structure for
Malawi Railways
www.cpcs.ca
350
400
2002
2006
Rail
Project
Transaction Advisor for the
Concessioning of Malagasy
Railways
Value of
Transaction
(US$ million)
120
Year of
Close
2001
Country
Services Provided
Madagascar
CPCS prepared and managed the concession agreement and bidding
documents and assisted in the transaction of the concession. CPCS
assisted the government in finalizing negotiations with the bidder
(Comazar). The Concession Agreement was signed in October 2002 and
rehabilitation of the network began the following month.
Rail Total: $10.7 billion
Ports
Project
Value of
Transaction
(US$ million)
Year of
Close
Country
Services Provided
Transaction of Ports Authority
Container Terminal /
Operations
120 (est.)
Ongoing
Kenya
CPCS is engaged to provide a strategic assessment and transaction advisory
services to enable the Privatization Commission in Kenya to prepare a
detailed proposal in regards to three port sector PPP transactions.
Concessioning of the
Container Terminal in Liberia
120
2011
Liberia
CPCS was the lead advisors overseeing a 25-year PPP concession for the
development and operation of the Port of Monrovia. As part of the PPP
concession agreement, the private sector will invest around $120-million
(USD) over the life of the 25-year concession.
Sierra Leone
CPCS was retained to act as Lead Transaction Advisors for this port
concession. The work included: finalizing the transaction strategy;
marketing the transaction, provide assistance in the bidding, negotiations,
and hand-over process; and providing assistance in management of the
completed transaction.
Implementation of Sierra
Leone Port Authority Reform
and Transactions (Phase II)
www.cpcs.ca
185
2011
Ports
Project
Transaction Advisors for
Concessioning of 24 Port
Terminals and Reform of
Nigerian Ports Authority
Concessioning of the Douala
Container Terminal at the
Cameroon Port
Privatization of Malawi Port
and Lake Services
Concessioning of the
Container Terminal at the Port
of Dar es Salaam
Concession of Kirikiri Lighter
Terminals 1 & 2
Value of
Transaction
(US$ million)
Year of
Close
Country
Services Provided
3,000
2007
Nigeria
CPCS assisted in the structuring, negotiating and closing concession
contracts for over 20 individual port terminals in Nigeria. The privatization
of all cargo handling services has been one of the most successful
privatizations in Africa, transforming the port sector and raising over $3
billion in fees and royalties for the Government.
75
2003
Cameroon
CPCS acted as the Lead Advisor to the Government of Cameroon to examine
the optimal strategy for introducing PPP in the countrys ancillary port
services and to assist the Government in concessioning the port activities
and Douala container terminal
N/A
2000
Malawi
For the ports, shipping service and rail network of Malawi, CPCS was
contracted to assist the Government of Malawi in the design of a
privatisation arrangement; development of an appropriate economic
regulatory structure and policies; promoting the concession among
potential investors; preparing the bidding documents and contractual
agreements; and assisting the government in negotiating with the
successful bidder.
3.7 per year
plus $13 per
TEU
1999
Tanzania
CPCS was mandated to concession the operations and equipment of the CT
at the Port of Dar es Salaam. The aim of this concessioning was to ensure
greater efficiency improvements to the users of the CT by the cost effective
operations of a private operator.
Nigeria
CPCSs advisory services to the Nigeria Port Authority include the
preparation of a Full Business Case, including PPP transaction structuring
and complete project PPP development. The consultancy also includes
assisting in the design and management of the procurement and evaluation
process as well as assessing market readiness (market sounding) and
supporting in project marketing. CPCS is also charged with preparing the
necessary supporting documents for prospective bidders (including
technical analysis) as well as preparing the Concession Agreement and
assisting with negotiations prior to contract award
TBD Project
Ongoing
Ongoing
Ports Total: $3.5 billion
www.cpcs.ca
Peter Kieran
Solutions for
President and CEO
[email protected]growing economies
Lisa Rhoades
Arif Mohiuddin
Vice President, Strategy & Corporate Affairs
[email protected]Vice President, West & North Africa
[email protected]Marc-Andre Roy
Glory Jonga
Vice President, North America
[email protected]Vice President, East & Southern Africa
[email protected]Sean McDonnell
Robert Graham
Vice President, International
[email protected]Transaction Advisory Practice Leader
[email protected]Ottawa
Abuja
Nairobi
New Delhi
Washington
T +1.613.237.2500
F +1.613.237.4494
72 Chamberlain Avenue
Ottawa, Ontario, K1S 1V9
Canada
T +234.09.670.9941
15 Buchanan Crescent
Wuse 2, Abuja, FCT
Nigeria
T +254.775.869097
Suite 23/24, Greenhouse Building
Ngong Road
PO Box 51843 - 00100
Kenya
T +91.11.26165304
IBC Building, First Floor
Sector-6, Kam Koti Marg
RK Puram 110022
India
T +1.202.772.3368
1050 Connecticut Ave,
10th Floor, Office 1077
Washington DC
USA
