New investment makes CPPIB largest backer of Peruvian pipeline company TgP
Canada Pension Plan Investment Board (CPPIB) has bought a 23.6% equity stake in Peruvian pipeline company Transportadora de Gas del Perú S.A. (TgP). The deal also included the acquisition of TgP's operator, Compañía Operadora de Gas del Amazonas (COGA). The value of the combined acquisitions was US$607 million. Including the 10.4% stake in TgP bought earlier this year, CPPIB expects to hold a total ownership interest in TgP of 36.8%, making it the largest investor. Separately, the pension fund also agreed to sell a 51% interest in COGA to Graña y Montero, and 30% to Enagás, with CPPIB retaining a 19% position in the company.
24 March 2014•3 mins read
