The Canada Pension Plan Investment Board (CPPIB) has offloaded its stake in an Australian toll road operator for $976.5 million, Reuters reports. The pension scheme sold a 12% stake in Transurban.
The scheme appointed UBS to manage the transaction. In 2010, Transurban rejected a $7.22 billion takeover offer from a consortium of CPPIB, Ontario Teachers’ Pension Plan and Australian investment fund CP2, adds The Australian.
Click here for the story from Reuters.
Click here for additional coverage from The Australian.
