HSBC Infrastructure Fund III, a find managed by InfraRed Capital Partners signed an agreement to acquire 50% stake in Concessionaire of the Cundinamarca Project in Columbia from Shikun & Binui Ltd. (TASE:SKBN) for approximately $60 million on November 29, 2016. The completion of the transaction is subject to various conditions precedent, including the approval of the senior lenders and as antitrust commissioner. Post-acquisition Post-closing, Shikun & Binui SBI will continue to serve as the EPC Contractor for the project. At closing, subject to the fulfillment of the conditions precedent, the Company is expected to receive a payment of approximately $60 million and to record in its financial statements a profit of approximately $35-40 million. HSBC Infrastructure Fund III, a find managed by InfraRed Capital Partners completed the acquisition of 50% stake in Concessionaire of the Cundinamarca Project in Columbia from Shikun & Binui Ltd. (TASE:SKBN) on December 21, 2016.