Canadian pension plans open offer for IDEAL

Canadian pension plans open offer for IDEAL

M&A Equity Capital Markets Project & Infrastructure Finance Mexico Canada

Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers' Pension Plan have launched a public offer to acquire up to 100% of Mexico's IDEAL, following an agreement in November last year to buy 40% of the infrastructure developer. The Canadian pension funds plan to spend roughly MXN50.4 billion ($2.18 billion) to acquire shares in IDEAL for MXN43.96 each, the Mexican company said in a securities filing on Tuesday. CPPIB and Ontario Teachers' reached a deal to buy a stake in IDEAL in Nove

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