CPP Investments buys Brookfield India road portfolio for Rs 9,375 cr
Real Estate

CPP Investments buys Brookfield India road portfolio for Rs 9,375 cr

The largest pension money manager in Canada, Canada Pension Plan Investment Board (CPP Investments), has agreed to buy a portfolio of Indian road assets from Canadian asset manager Brookfield in a deal valued at about Rs 9,375 crore.

An infrastructure investment trust (InvIT) led by Canada Pension Plan Investment Board, IndInfravit Trust, has entered into a contract with investment holdings of Brookfield- BIF India Holdings Pte Ltd and Kinetic Holdings 1 Pte Ltd to purchase the entire equity shareholding of five operational road projects from Brookfield on Friday.

Brookfield is finalising its road portfolio sale in India to IndInfravit Trust for an enterprise valuation of around Rs 9,000-Rs 9,500 crores.

The transaction values the equity of the five operational road assets that Brookfield owns via platform Peak Infrastructure at about Rs 6,000 crore. The company also has a debt of Rs 3,000-3,200 crore debt.

Allianz, Omers, and German insurer, are the other key shareholders of the IndInfravit Trust, along with L&T Infrastructure Development Projects (L&T IDPL), which also functions as a vehicle sponsor.

The Roads Portfolio includes three toll roads and two annuity roads, with about 2,400 km lanes in Bihar, Maharashtra, Andhra Pradesh, and Uttar Pradesh. The Roads Portfolio has been functional, on an average, for around nine years, and has an average residual concession duration of 20 years, as per the statement.

IndInfravit presently holds a portfolio of 13 operational road concessions with about 5,000 km of lanes spread across five states. This acquisition will grow the portfolio into three additional states, Bihar, Andhra Pradesh, and Uttar Pradesh.

Growing interest in Indian infrastructure is part of the ongoing commitment to providing solid long-term risk-adjusted returns to CPP contributors and beneficiaries, said Scott Lawrence.

Co-Head - Infrastructure for Allianz Capital Partners, Andrew Cox, said the company investment in IndInfravit permits us to be part of the vibrant and highly important infrastructure sector in India. The company looks forward to performing together with our partners on the further development of the IndInfravit platform producing high quality, well-diversified asset portfolio.

Image Source

Also read: CPPIB to invest Rs 2,650 cr in joint venture with RMZ Corp

The largest pension money manager in Canada, Canada Pension Plan Investment Board (CPP Investments), has agreed to buy a portfolio of Indian road assets from Canadian asset manager Brookfield in a deal valued at about Rs 9,375 crore. An infrastructure investment trust (InvIT) led by Canada Pension Plan Investment Board, IndInfravit Trust, has entered into a contract with investment holdings of Brookfield- BIF India Holdings Pte Ltd and Kinetic Holdings 1 Pte Ltd to purchase the entire equity shareholding of five operational road projects from Brookfield on Friday. Brookfield is finalising its road portfolio sale in India to IndInfravit Trust for an enterprise valuation of around Rs 9,000-Rs 9,500 crores. The transaction values the equity of the five operational road assets that Brookfield owns via platform Peak Infrastructure at about Rs 6,000 crore. The company also has a debt of Rs 3,000-3,200 crore debt. Allianz, Omers, and German insurer, are the other key shareholders of the IndInfravit Trust, along with L&T Infrastructure Development Projects (L&T IDPL), which also functions as a vehicle sponsor. The Roads Portfolio includes three toll roads and two annuity roads, with about 2,400 km lanes in Bihar, Maharashtra, Andhra Pradesh, and Uttar Pradesh. The Roads Portfolio has been functional, on an average, for around nine years, and has an average residual concession duration of 20 years, as per the statement. IndInfravit presently holds a portfolio of 13 operational road concessions with about 5,000 km of lanes spread across five states. This acquisition will grow the portfolio into three additional states, Bihar, Andhra Pradesh, and Uttar Pradesh. Growing interest in Indian infrastructure is part of the ongoing commitment to providing solid long-term risk-adjusted returns to CPP contributors and beneficiaries, said Scott Lawrence. Co-Head - Infrastructure for Allianz Capital Partners, Andrew Cox, said the company investment in IndInfravit permits us to be part of the vibrant and highly important infrastructure sector in India. The company looks forward to performing together with our partners on the further development of the IndInfravit platform producing high quality, well-diversified asset portfolio. Image Source Also read: CPPIB to invest Rs 2,650 cr in joint venture with RMZ Corp

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Embraer to Acquire 51 Per Cent Stake in Mahindra Aerospace Arm

Brazilian aerospace major Embraer will acquire a 51 per cent equity stake in Novavayu Aerospace, a step-down subsidiary of Mahindra and Mahindra, under an Investment Agreement notified by the automobile company in an exchange filing. The transaction will give Embraer control of the aerospace business. Following completion of the acquisition, Novavayu Aerospace will cease to be a wholly owned subsidiary and become an associate of Mahindra Defence Systems, which is a step-down wholly owned subsidiary of Mahindra and Mahindra. The agreement is expected to be completed on or before December 1. Mah..

Next Story
Infrastructure Urban

RBI Opens Special Dollar Window for Three State-Run OMCs

The Reserve Bank of India (RBI) has opened a special facility to meet the entire daily US dollar requirements of three public sector oil marketing companies (OMCs), in a move aimed at easing pressure on the Indian rupee. The facility will take effect on October 12, 2026, and remain available until further notice. Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are eligible to use the arrangement. Under the facility, the RBI will sell US dollars to the three companies through designated banks, allowing them to meet their oil-import payments without sourc..

Next Story
Building Material

Cement Prices Likely to Rise Rs. 10-15 per Bag from Mid-October

Cement manufacturers in India are likely to raise prices by Rs. 10-15 per bag from mid-October, as they seek to offset persistent increases in power and fuel costs. Emkay Research said its channel checks indicated a high probability of an increase from October 12, supported by the start of the busy construction season and favourable demand-supply conditions. The sector had implemented similar rate adjustments of Rs. 10-15 per bag during the first quarter, but the increases were insufficient to cover higher operating costs. Prices also softened during July and August because of the monsoon, wid..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code