Opérations et transactions|19 avril 2012
CPPIB enters agreement to acquire stake in Grupo Costanera
Torys acted as counsel to Canada Pension Plan Investment Board providing regulatory advice with a team that included Matthew Cockburn and John Cameron
On April 19, 2012, the Canada Pension Plan Investment Board (CPPIB) announced that it has entered into an agreement to acquire significant minority stakes in five major Chilean toll roads from the Atlantia Group. The agreement involves CPPIB acquiring a 49.99% interest in Grupo Costanera. CPPIB will commit an equity investment of 560 billion Chilean pesos or approximately C$1.14 billion for this transaction.
Grupo Costanera is the largest urban toll road operator in Chile and owns a portfolio of five toll roads that span a 188-kilometre network. Four of the toll roads are located in the Santiago metropolitan region including two major commuter motorways, Costanera Norte and Vespucio Sur. The fifth toll road is located on the central coast of Chile.
Atlantia Group will continue to own the remaining 50.01% interest in Grupo Costanera. The transaction is subject to customary regulatory approvals.
CPPIB is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries.
Further information can be found on CPPIB's website.
Grupo Costanera is the largest urban toll road operator in Chile and owns a portfolio of five toll roads that span a 188-kilometre network. Four of the toll roads are located in the Santiago metropolitan region including two major commuter motorways, Costanera Norte and Vespucio Sur. The fifth toll road is located on the central coast of Chile.
Atlantia Group will continue to own the remaining 50.01% interest in Grupo Costanera. The transaction is subject to customary regulatory approvals.
CPPIB is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries.
Further information can be found on CPPIB's website.