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

Next Story
Products

Viva ACP Launches FR A1-Rated Honeycomb Panels for Fire Safety

Viva, Asia’s largest manufacturer and supplier of aluminium composite panels (ACP) introduced its FR A1-rated Honeycomb Panels, setting a new industry benchmark for fire safety and architectural excellence. Engineered to deliver exceptional performance, these panels combine advanced fire-resistance technology with aesthetic versatility, offering a revolutionary solution for safety-critical environments.The FR A1 rating represents the highest standard of fire resistance under the European Standard EN 13501-1, signifying non-combustibility and zero contribution to fire, smoke, or toxic emissio..

Next Story
Real Estate

Almal Real Estate Expands into Commercial, Global Markets

Almal Real Estate Development is soon to announce its upcoming expansion into new verticals and international markets as part of its strategic growth plans for 2030. The company, known for its innovative luxury residential and hospitality developments, is preparing to diversify into the commercial sector with the introduction of The Smart Space, a network of business centers in UAE featuring five-star amenities. Additionally, Almal is entering new markets in Bali and Thailand as a community developer, focusing on villa and townhouse projects.The expansion into the commercial real estate sector..

Next Story
Infrastructure Urban

NABARD Approves Rs 9.03 Billion for 127 Projects in Himachal

The Himachal Pradesh government has secured approval from the National Bank for Agriculture and Rural Development (NABARD) for 127 projects worth Rs 9.03 billion for the 2024-25 fiscal, Chief Minister Sukhvinder Singh Sukhu announced. During a meeting with MLAs from Kangra, Kullu, Kinnaur, Solan, Chamba, Bilaspur, and Lahaul-Spiti districts to discuss priorities for the 2025-26 budget, Sukhu said the approved projects include 50 MLA-priority schemes under the Public Works Department, valued at Rs 4.12 billion, and 23 MLA-priority schemes under the Jal Shakti Vibhag, costing Rs 1.79 billio..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?