CPPIB on the road again in Oz with Intoll
The Canada Pension Plan Investment Board (CPPIB) has returned to its pursuit of Australia-headquartered toll road groups with an A$3.4 billion ($3.05 billion) privatization proposal for Australian road toll operator Intoll Group – a cash offer at a 38% premium over the target’s most recent closing price.
This comes just two months after the Canadian pension fund teamed up with fellow North American LP Ontario Teachers Pension Plan (OTPP) in an A$6.6 billion ($5.8 billion) bid for Intoll competitor Transurban...
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