Future Fund exit upsets Transurban bid
One of Australia’s biggest uncompleted deals, the Canada Pension Plan Investment Board (CPP IB) and Ontario Teachers' Pension Plan (OTPP)’s joint A$6.8 billion ($6.2 billion) planned investment in local toll road operator Transurban Group, was cast into fresh doubt following the announcement by Australian SWF the Future Fund that it will no longer be participating in the bid.
At end 2009, Future Fund said it was discussing joining the bidding consortium, following Transurban’s rejection of a CPP IB/OTPP offer, but the news of its withdrawal had immediate effect – not least...
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