Atlantia Sells Chilean Road Stake to Canadians

Atlantia Sells Chilean Road Stake to Canadians

Europe M&A Canada

The Canada Pension Plan Investment Board (CPPIB) has agreed to buy a 49.99% stake in Atlantia's Chilean toll road unit Grupo Costanera for CLP560bn ($1.15bn), the two say. The sale provides needed funding for Costanera’s toll roads, and culminates a process stretching back to last year when the Italian road operator examined several options to raise funds. Atlantia had considered floating part of its position publicly last year, before buying the 45.465% it did not own in February for EUR565.2m.

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