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Allens acts on $3.4b Canadian deal

Allens acts on $3.4b Canadian deal

Allens is acting for Canada Pension Plan Investment Board on its proposed acquisition of Intoll Group, valued at A$3.4 billion.

ALLENS Arthur Robinson is acting for Canada Pension Plan Investment Board, one of the country’s largest institutional investors, on its proposed acquisition of Intoll Group, valued at A$3.4 billion.

Under CPPIB's proposal, Intoll security holders will have the option of receiving A$1.52 cash per Intoll stapled security, or a scrip and cash option, or a combination of the two options. If accepted by security holders, the acquisition will be implemented via a scheme of arrangement and trust schemes.

The directors of Intoll have unanimously recommended that Intoll security holders approve the transaction and elect to receive the cash option, stating that CPPIB is offering a highly attractive premium.

Partner Wendy Rae is leading the Allens team, which brings together partners and lawyers across the corporate, funds management, projects and tax service areas.

“We are delighted to again work with CPPIB on a strategic infrastructure

investment. We are pleased to have been able to offer CPPIB comprehensive and coordinated legal advice on this transaction, which involves multiple teams of advisors and the complexities of multiple jurisdictions and time zones,” Rae said.

Allens has previously worked with CPPIB on its acquisition of Macquarie Communications Infrastructure Group in 2009.

CPPIB is a professional investment management organisation that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. The Canada Pension Plan Fund currently has assets under management of approximately C$129.7 billion.


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