Belgian R4 motorway reaches FC.

Belgium's De Werkvennootschap and the Besix-led BRAVO4 consortium have reached financial close on the R4 motorway West and East in Ghent. The €1 billion DBFM project will be developed by a consortium consisting of Besix and Stadsbaderabrdn in a joint venture with Rebel Group. The financing for the project was arranged through a debt funding competition involving Belgian and international banks and insurers. The R4 motorway project aims to improve connectivity and traffic flow by reducing the number of nodes, removing intersections with traffic lights, adding new nodes, and replacing cycle paths with a cycle road network. The project faced challenges during its development, including a threat to invoke the flex clause by the project's backers. The advisers to the procuring authority and the sponsor include Deloitte, Eubelius, Arcadis, SBE, Rebel Group, A&O Shearman, Linklaters, BDO, EY, and Infrata. The losing bidders for the project were Macquarie, Denys, BAM, Jan de Nul, and Willemen. [Extracted from the article]