October 5, 2018 |
The Ontario Teachers’ Pension Plan and Canada Pension Plan Investment Board have acquired a 49% stake on the 309-km Pacifico Sur toll road.
Under the new agreement, Mexico’s Impulsadora del Desarrolo y el Empleo en America Latina received a combined CAD314m ($243.9m) from Ontario Teachers and CPPIB for a 20% and 29% stake in Pacifico Sur, respectively.
IDEAL will maintain a 51% stake in the company.
Pacifico Sur links Southern Guadalajara to the city of Tepic through Jalisco and Nayarit.
Canadian pension funds inject roughly $244m combined into the toll road