CPPIB acquires stake in Indonesian toll road

By Naomi Neilson|10 December 2019
Indonesian toll road

CPPIB has acquired interest in a company that is the concession holder and operator of a toll road in Indonesia.

Firm: Allens (Canada Pension Plan Investment Board)

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Deal: Allens has advised Canada Pension Plan Investment Board (CPPIB) on the acquisition of a 45 per cent interest in PT Lintas Marga Sedaya.

Value: Undisclosed.

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Area: M&A.

Key players: The corporate team was led by partner Wendy Rae, special counsel Gadi Bloch, associates Nicholas Twomey and Nicholas Harding and lawyer Ben Toscano. Projects and development partner Leighton O’Brien and senior overseas practitioner Paul Grethe also assisted.

Deal significance: Headquartered in Toronto, CPPIB is a global investment manager with a diversified portfolio of infrastructure assets, public equities, private equities, real estate and fixed income instruments.

CPPIB’s first infrastructure asset in Indonesia, the 117-kilometre Cipali toll road, is located in Javas most populated and fastest-growing region.

“We were delighted to advise CPPIB on its infrastructure debut in Indonesia, as it looks to deepen its commitment and increase its footprint in the Asia region,” said Ms Rae.

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CPPIB acquires stake in Indonesian toll road
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