CP2 fails to block Transurban share sale
CP2 Ltd., the Australian infrastructure investor that partnered with Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan (OTPP) in the attempted A$7.2 billion ($6.4 billion) privatization of local toll road operator Transurban Group, has tried and failed to block Transurban's rights issue, launched to fund the purchase of Sydney's Lane Cove Tunnel.
CP2 applied to Australia's Takeovers Panel for interim orders to block the rights issue, but was rejected. CP2 contended that Transurban gave the market incomplete information, and timed the issue in a...
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