Toronto • Three of Canada's largest pension plans have agreed to buy Chicago toll-road operator Skyway Concession Co. for $2.8 billion from a group led by Spain's Ferrovial SA.
Canada Pension Plan Investment Board, Ontario Municipal Employees Retirement System, and Ontario Teachers' Pension Plan said they will each own a third of Skyway under the terms of the deal, contributing $512 million each.
"Skyway represents a rare opportunity for us to invest in a mature and significant toll road of this size in the U.S.," Cressida Hogg, Canada Pension's head of infrastructure, said Friday. "This investment fits well with CPPIB's strategy to invest in core infrastructure assets with long-term, stable cash flows in key global markets."
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2 comments:
Privately owned toll roads should not allow radar traps, especially if they get a cut of the profit.
Jesus. Couldn't you find an American Pension that needs a safe place to store their cash and offers revenue potential? No they would rather keep it liquid in the stock markets so they can continue to steal and raid the plans.
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