{"id":19866,"date":"2025-03-13T19:50:52","date_gmt":"2025-03-13T19:50:52","guid":{"rendered":"https:\/\/www.hotelsalepage.com\/feed\/cision-pr-newswire\/psp-investments-joins-cpp-investments-and-ferrovial-in-407-etr-ownership-group\/"},"modified":"2025-03-13T19:50:52","modified_gmt":"2025-03-13T19:50:52","slug":"psp-investments-joins-cpp-investments-and-ferrovial-in-407-etr-ownership-group","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=19866","title":{"rendered":"PSP Investments joins CPP Investments and Ferrovial in 407 ETR ownership group"},"content":{"rendered":"<p><b>Transaction Highlights:<\/b><\/p>\n<ul type=\"disc\">\n<li><i>PSP Investments to acquire significant minority stake of 7.51% <\/i><i>in 407 ETR from CPP Investments<\/i><\/li>\n<li><i>CPP Investments and Ferrovial to concurrently enter into agreements to acquire an aggregate 6.76% stake in 407 ETR from AtkinsR\u00e9alis<\/i><\/li>\n<li><i>Transactions position 407 ETR for long-term performance amid increasing traffic demand<\/i><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">TORONTO<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">March 13, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Public Sector Pension Investment Board (<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=1152411954&amp;u=https%3A%2F%2Fwww.investpsp.com%2Fen%2F&amp;a=PSP+Investments\" target=\"_blank\" rel=\"nofollow\">PSP Investments<\/a>), one of <span class=\"xn-location\">Canada&#8217;s<\/span> largest pension investors, today announced that it has entered into agreements to acquire a strategic interest in 407 Express Toll Route (407 ETR), an all-electronic, barrier-free, toll highway spanning 108km in the <span class=\"xn-location\">Greater Toronto Area<\/span>, from investment management organization Canada Pension Plan Investment Board (<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=3579312695&amp;u=https%3A%2F%2Fwww.cppinvestments.com%2F&amp;a=CPP+Investments\" target=\"_blank\" rel=\"nofollow\">CPP Investments<\/a>).<\/p>\n<div dir=\"ltr\">   <a href=\"https:\/\/mma.prnasia.com\/media2\/2641066\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" target=\"_blank\"><img decoding=\"async\" title=\"\" src=\"https:\/\/mma.prnasia.com\/media2\/2641066\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" alt=\"\" align=\"middle\" \/><\/a>   <br \/>   <span><\/span>  <\/div>\n<p>PSP Investments will add this 407 ETR investment to its global portfolio of road assets through the acquisition of a 7.51% stake for a purchase price comprised of approximately <span class=\"xn-money\">$2.39 billion<\/span> payable at closing, and a deferred payment to be made up to 18 months after closing.<\/p>\n<p>Simultaneously, engineering services and nuclear company AtkinsR\u00e9alis will enter into agreements to sell its remaining 6.76% stake in 407 ETR to CPP Investments and Ferrovial, a global infrastructure company. CPP Investments expects to acquire a 1.70% interest in 407 ETR from AtkinsR\u00e9alis, on the same basis as the deferred portion of the purchase price paid by PSP Investments. Net proceeds to CPP Investments from all of the applicable transactions are expected to be approximately <span class=\"xn-money\">$2.39 billion<\/span> for a net 5.81% interest sold after closing.<\/p>\n<p>Following completion of these transactions, ownership control of 407 ETR is expected to be attributed as follows: Ferrovial at 48.29%, CPP Investments and other institutional investors at 44.20%, and PSP Investments at 7.51%. AtkinsR\u00e9alis will cease to be a shareholder.<\/p>\n<p>&#8220;We are pleased to join CPP Investments and Ferrovial in the 407 ETR ownership group. PSP Investments has deep expertise in the transportation sector and will support the long-term stability and reliability of this critical road that services more than 3 million Canadians each week,&#8221; said <b>Sandiren Curthan, Managing Director and Global Head of Infrastructure Investments, PSP Investments<\/b>. &#8220;Our investment in 407 ETR represents our largest infrastructure commitment in <span class=\"xn-location\">Canada<\/span> to date and exemplifies our broader infrastructure strategy, which is focused on investing in high-quality, essential global infrastructure assets in transportation, communications and energy, enabling us to deliver on our mission and mandate.&#8221;\u00a0<\/p>\n<p>&#8220;This transaction enables CPP Investments to optimize returns for CPP contributors and beneficiaries while building stronger ties with two valued partners and continuing to own a significant stake in a high-quality business,&#8221; said <b><span class=\"xn-person\">James Bryce<\/span>, Managing Director, Head of Infrastructure, CPP Investments<\/b>.\u00a0&#8220;We look forward to partnering with PSP Investments, Ferrovial and the management team, as the 407 ETR continues to deliver excellent service to the millions of individual and business customers who use the highway.&#8221;<\/p>\n<p>&#8220;We are pleased to have PSP Investments join Ferrovial and CPP Investments as a shareholder in 407 ETR. We share a long-term commitment to this high-quality asset and a track record of successful collaboration with all our partners. We will continue to serve the citizens of the <span class=\"xn-location\">Greater Toronto Area<\/span> and improve mobility and growth in the region,&#8221;\u00a0said <b><span class=\"xn-person\">Ignacio Madridejos<\/span>, CEO of Ferrovial<\/b>.<\/p>\n<p>The transactions are subject to customary closing conditions and adjustments.<\/p>\n<p><b>About PSP Investments<\/b><\/p>\n<p>The Public Sector Pension Investment Board (PSP Investments) is one of\u00a0Canada&#8217;s\u00a0largest pension investors with\u00a0$264.9 billion\u00a0of net assets under management as of\u00a0March 31, 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of\u00a0Canada\u00a0for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in\u00a0Ottawa, PSP Investments has its principal business office in Montr\u00e9al and offices in\u00a0New York,\u00a0London\u00a0and\u00a0Hong Kong. For more information, visit\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=577323485&amp;u=https%3A%2F%2Fwww.investpsp.com%2Fen%2F&amp;a=investpsp.com\" target=\"_blank\" rel=\"nofollow\">investpsp.com<\/a>\u00a0or follow us on\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=2586236345&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fpsp-investments%2F&amp;a=LinkedIn\" target=\"_blank\" rel=\"nofollow\">LinkedIn<\/a>.\u00a0<\/p>\n<p><b>About CPP Investments<\/b><\/p>\n<p>Canada Pension Plan Investment Board (CPP Investments\u2122) is a professional investment management organization that manages the Fund in the best interest of\u00a0the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in <span class=\"xn-location\">Toronto<\/span>, with offices in <span class=\"xn-location\">Hong Kong<\/span>, <span class=\"xn-location\">London<\/span>, <span class=\"xn-location\">Mumbai<\/span>, <span class=\"xn-location\">New York City<\/span>, <span class=\"xn-location\">San Francisco<\/span>, S\u00e3o Paulo and <span class=\"xn-location\">Sydney<\/span>, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm&#8217;s length from governments. At <span class=\"xn-chron\">December 31, 2024<\/span>, the Fund totalled <span class=\"xn-money\">C$699.6 billion<\/span>. For more information, please visit\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=550861276&amp;u=http%3A%2F%2Fwww.cppinvestments.com%2F&amp;a=www.cppinvestments.com\" target=\"_blank\" rel=\"nofollow\">www.cppinvestments.com<\/a>\u00a0or follow us on\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=3982759639&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fcppinvestments%2F&amp;a=LinkedIn\" target=\"_blank\" rel=\"nofollow\">LinkedIn<\/a><u>,\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=154274310&amp;u=https%3A%2F%2Fwww.instagram.com%2Fcppinvestments%2F&amp;a=Instagram\" target=\"_blank\" rel=\"nofollow\">Instagram<\/a><\/u>\u00a0or on X\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=241211990&amp;u=https%3A%2F%2Ftwitter.com%2Fcppinvestments&amp;a=%40CPPInvestments\" target=\"_blank\" rel=\"nofollow\">@CPPInvestments<\/a>.<\/p>\n<p><b>About Ferrovial<\/b><\/p>\n<p>Ferrovial is one of the world&#8217;s leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 25,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of <span class=\"xn-location\">Spain&#8217;s<\/span> blue-chip IBEX 35 index. It is also included in globally recognized sustainability indices such as the Dow Jones Best in Class Index (former Dow Jones Sustainability Index), and all its operations are conducted in compliance with the principles of the UN Global Compact, which the Company adopted in 2002.<\/p>\n<div dir=\"ltr\">   <a href=\"https:\/\/mma.prnasia.com\/media2\/2641065\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" target=\"_blank\"><img decoding=\"async\" title=\"\" src=\"https:\/\/mma.prnasia.com\/media2\/2641065\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" alt=\"\" align=\"middle\" \/><\/a>   <br \/>   <span><\/span>  <\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<p><b>Transaction Highlights:<\/b><\/p>\n<ul type=\"disc\">\n<li><i>PSP Investments to acquire significant minority stake of 7.51% <\/i><i>in 407 ETR from CPP Investments<\/i><\/li>\n<li><i>CPP Investments and Ferrovial to concurrently enter into agreements to acquire an aggregate 6.76% stake in 407 ETR from AtkinsR\u00e9alis<\/i><\/li>\n<li><i>Transactions position 407 ETR for long-term performance amid increasing traffic demand<\/i><\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">TORONTO<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">March 13, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Public Sector Pension Investment Board (<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=1152411954&amp;u=https%3A%2F%2Fwww.investpsp.com%2Fen%2F&amp;a=PSP+Investments\" target=\"_blank\" rel=\"nofollow\">PSP Investments<\/a>), one of <span class=\"xn-location\">Canada&#8217;s<\/span> largest pension investors, today announced that it has entered into agreements to acquire a strategic interest in 407 Express Toll Route (407 ETR), an all-electronic, barrier-free, toll highway spanning 108km in the <span class=\"xn-location\">Greater Toronto Area<\/span>, from investment management organization Canada Pension Plan Investment Board (<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=3579312695&amp;u=https%3A%2F%2Fwww.cppinvestments.com%2F&amp;a=CPP+Investments\" target=\"_blank\" rel=\"nofollow\">CPP Investments<\/a>).<\/p>\n<div dir=\"ltr\">   <a href=\"https:\/\/mma.prnasia.com\/media2\/2641066\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" target=\"_blank\"><img decoding=\"async\" title=\"\" src=\"https:\/\/mma.prnasia.com\/media2\/2641066\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" alt=\"\" align=\"middle\" \/><\/a>   <br \/>   <span><\/span>  <\/div>\n<p>PSP Investments will add this 407 ETR investment to its global portfolio of road assets through the acquisition of a 7.51% stake for a purchase price comprised of approximately <span class=\"xn-money\">$2.39 billion<\/span> payable at closing, and a deferred payment to be made up to 18 months after closing.<\/p>\n<p>Simultaneously, engineering services and nuclear company AtkinsR\u00e9alis will enter into agreements to sell its remaining 6.76% stake in 407 ETR to CPP Investments and Ferrovial, a global infrastructure company. CPP Investments expects to acquire a 1.70% interest in 407 ETR from AtkinsR\u00e9alis, on the same basis as the deferred portion of the purchase price paid by PSP Investments. Net proceeds to CPP Investments from all of the applicable transactions are expected to be approximately <span class=\"xn-money\">$2.39 billion<\/span> for a net 5.81% interest sold after closing.<\/p>\n<p>Following completion of these transactions, ownership control of 407 ETR is expected to be attributed as follows: Ferrovial at 48.29%, CPP Investments and other institutional investors at 44.20%, and PSP Investments at 7.51%. AtkinsR\u00e9alis will cease to be a shareholder.<\/p>\n<p>&#8220;We are pleased to join CPP Investments and Ferrovial in the 407 ETR ownership group. PSP Investments has deep expertise in the transportation sector and will support the long-term stability and reliability of this critical road that services more than 3 million Canadians each week,&#8221; said <b>Sandiren Curthan, Managing Director and Global Head of Infrastructure Investments, PSP Investments<\/b>. &#8220;Our investment in 407 ETR represents our largest infrastructure commitment in <span class=\"xn-location\">Canada<\/span> to date and exemplifies our broader infrastructure strategy, which is focused on investing in high-quality, essential global infrastructure assets in transportation, communications and energy, enabling us to deliver on our mission and mandate.&#8221;\u00a0<\/p>\n<p>&#8220;This transaction enables CPP Investments to optimize returns for CPP contributors and beneficiaries while building stronger ties with two valued partners and continuing to own a significant stake in a high-quality business,&#8221; said <b><span class=\"xn-person\">James Bryce<\/span>, Managing Director, Head of Infrastructure, CPP Investments<\/b>.\u00a0&#8220;We look forward to partnering with PSP Investments, Ferrovial and the management team, as the 407 ETR continues to deliver excellent service to the millions of individual and business customers who use the highway.&#8221;<\/p>\n<p>&#8220;We are pleased to have PSP Investments join Ferrovial and CPP Investments as a shareholder in 407 ETR. We share a long-term commitment to this high-quality asset and a track record of successful collaboration with all our partners. We will continue to serve the citizens of the <span class=\"xn-location\">Greater Toronto Area<\/span> and improve mobility and growth in the region,&#8221;\u00a0said <b><span class=\"xn-person\">Ignacio Madridejos<\/span>, CEO of Ferrovial<\/b>.<\/p>\n<p>The transactions are subject to customary closing conditions and adjustments.<\/p>\n<p><b>About PSP Investments<\/b><\/p>\n<p>The Public Sector Pension Investment Board (PSP Investments) is one of\u00a0Canada&#8217;s\u00a0largest pension investors with\u00a0$264.9 billion\u00a0of net assets under management as of\u00a0March 31, 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of\u00a0Canada\u00a0for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in\u00a0Ottawa, PSP Investments has its principal business office in Montr\u00e9al and offices in\u00a0New York,\u00a0London\u00a0and\u00a0Hong Kong. For more information, visit\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=577323485&amp;u=https%3A%2F%2Fwww.investpsp.com%2Fen%2F&amp;a=investpsp.com\" target=\"_blank\" rel=\"nofollow\">investpsp.com<\/a>\u00a0or follow us on\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=2586236345&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fpsp-investments%2F&amp;a=LinkedIn\" target=\"_blank\" rel=\"nofollow\">LinkedIn<\/a>.\u00a0<\/p>\n<p><b>About CPP Investments<\/b><\/p>\n<p>Canada Pension Plan Investment Board (CPP Investments\u2122) is a professional investment management organization that manages the Fund in the best interest of\u00a0the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in <span class=\"xn-location\">Toronto<\/span>, with offices in <span class=\"xn-location\">Hong Kong<\/span>, <span class=\"xn-location\">London<\/span>, <span class=\"xn-location\">Mumbai<\/span>, <span class=\"xn-location\">New York City<\/span>, <span class=\"xn-location\">San Francisco<\/span>, S\u00e3o Paulo and <span class=\"xn-location\">Sydney<\/span>, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm&#8217;s length from governments. At <span class=\"xn-chron\">December 31, 2024<\/span>, the Fund totalled <span class=\"xn-money\">C$699.6 billion<\/span>. For more information, please visit\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=550861276&amp;u=http%3A%2F%2Fwww.cppinvestments.com%2F&amp;a=www.cppinvestments.com\" target=\"_blank\" rel=\"nofollow\">www.cppinvestments.com<\/a>\u00a0or follow us on\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=3982759639&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fcppinvestments%2F&amp;a=LinkedIn\" target=\"_blank\" rel=\"nofollow\">LinkedIn<\/a><u>,\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=154274310&amp;u=https%3A%2F%2Fwww.instagram.com%2Fcppinvestments%2F&amp;a=Instagram\" target=\"_blank\" rel=\"nofollow\">Instagram<\/a><\/u>\u00a0or on X\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4382582-1&amp;h=241211990&amp;u=https%3A%2F%2Ftwitter.com%2Fcppinvestments&amp;a=%40CPPInvestments\" target=\"_blank\" rel=\"nofollow\">@CPPInvestments<\/a>.<\/p>\n<p><b>About Ferrovial<\/b><\/p>\n<p>Ferrovial is one of the world&#8217;s leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 25,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of <span class=\"xn-location\">Spain&#8217;s<\/span> blue-chip IBEX 35 index. It is also included in globally recognized sustainability indices such as the Dow Jones Best in Class Index (former Dow Jones Sustainability Index), and all its operations are conducted in compliance with the principles of the UN Global Compact, which the Company adopted in 2002.<\/p>\n<div dir=\"ltr\">   <a href=\"https:\/\/mma.prnasia.com\/media2\/2641065\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" target=\"_blank\"><img decoding=\"async\" title=\"\" src=\"https:\/\/mma.prnasia.com\/media2\/2641065\/PSP_Investments_PSP_Investments_joins_CPP_Investments_and_Ferrov.jpg?p=medium600\" alt=\"\" align=\"middle\" \/><\/a>   <br \/>   <span><\/span>  <\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-19866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/19866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19866"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/19866\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}