CPPIB set to hike stake in IndInfravit for ₹1,005 cr
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Canada’s largest pension fund Canada Pension Plan Investment Board (CPP Investments) is acquiring an additional 15.9% of the total units in IndInfravit Trust, an infrastructure investment trust (InvIT), for ₹1,005 crore.
IndInfravit, sponsored by L&T Infrastructure Development Projects Ltd (L&T IDPL), was launched in 2018 and it acquires and maintains stable brownfield road concessions in India.
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The stake is being purchased through two separate deals.
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Canada Pension Plan Investment Board (CPP Investments), the largest Canadian pension fund manager, today said it bought an additional 15.9 per cent of the total units in IndInfravit Trust for Rs 1,005 crore. The units were bought in two separate deals. CPP Investments has acquired seven per cent of the units from Sadbhav Infrastructure Project and will acquire an additional 8.9 per cent from L&T IDPL, which, upon completion, will increase CPP Investments’ stake in IndInfravit from 27.9 per cent to 43.8 per cent . IndInfravit is an infrastructure investment trust (InvIT) sponsored by L&T Infrastructure Development Projects Limited . Launched in 2018, IndInfravit acquires and maintains stable brownfield road concessions in the country.
CPP invests Rs 1,005 cr more in Indinfravit for additional 16% stake
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Last Updated: May 06, 2021, 10:10 PM IST
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Indinfravit is an infrastructure investment trust (InvIT) sponsored by L&T Infrastructure Development Projects since 2018 to acquire and maintain brownfield road concessions.
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The combined investment is 173 million Canadian dollars or Rs 1,005 crore, the CPP said in a statement.
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MUMBAI: The Canada Pension Plan Investment Board or CPP Investments on Thursday acquired an additional 15.9 per cent of the total units in Indinfravit Trust (Indinfravit) through two separate transactions, for 173 million Canadian dollars (Rs 1,005 crore), taking its ownership in the trust to 43.8 per cent from 27.9 per cent now.
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