The Canada Pension Plan Investment Board (CPPIB)has offloaded its stake in an Australian toll road operatorfor $976.5 million, Reuters reports. The pension scheme sold a 12% stake in Transurban.
Theschemeappointed UBS to manage the transaction. In 2010, Transurban rejected a $7.22 billion takeover offer from a consortium of CPPIB, Ontario Teachers’ Pension Plan and Australian investment fund CP2, adds The Australian.
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