CPPIB, Ontario Teachers' buy stake in second Mexican toll road
Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan have agreed to invest alongside Impulsora del Desarrollo y el Empleo en América Latina (Ideal) in Pacifico Sur, a 309-kilometre toll road in Mexico. CPPIB and Ontario Teachers’ together will acquire a 49 percent stake in the toll road's concessionaire for an initial $314 million and a possible second payment of up to $218 million. Ideal, a Mexican infrastructure company, will hold the remaining interest. The deal builds on a 2016 transaction that saw CPPIB and Ontario Teachers’ pay $1.35 billion for a 49 percent stake in Mexico's Arco Norte toll road.
3 October 2018•4 mins read
