IDEAL, Ontario Teachers’ and RPC Investments further expand Mexican infrastructure partnership


MEXICO CITY and TORONTO, December 7, 2021 / CNW / – The Ontario Teachers’ Pension Plan Board (“Ontario Teachers”) and the Canada Pension Plan Investment Board (“CPP Investments”) have entered into a definitive agreement to acquire additional interests in Impulsora del Desarrollo y el Empleo en América Latina, SAB de CV (BMV: IDEAL B-1) (“IDEAL”) at MXN $ 45.00 per share.

Ontario Teachers’ Pension Plan logo (CNW Group / Canada Pension Plan Investment Board)

Under the agreement, Ontario Teachers’ will acquire an additional 8.4% stake in IDEAL, while CPP Investments will increase its stake by an additional 1.1%. Following the closing of the transaction, Ontario Teachers’ and CPP Investments will each own 24.8% of the outstanding shares of IDEAL. The closing of the transaction is subject to certain conditions, including obtaining authorization from the Mexican competition authorities (Federal Competence Commission).

IDEAL owns, finances and operates a portfolio of toll motorway concessions, industrial and new sites, water treatment plants, multimodal transit terminals and from Mexico largest operator of electronic toll systems. IDEAL’s main activity is in the toll roads sector where it operates a portfolio of strategically distributed roads to interconnect major urban centers, ports and production centers across Mexico.

“We are delighted to further deepen our long-standing investment relationship with IDEAL alongside CPP Investments and to significantly increase our exposure to high quality core infrastructure assets in Mexico,” noted Stacey purcell, General manager, Latin America from the Ontario Teachers’ Infrastructure and Natural Resources Group. “In recent years, we have seen first-hand that IDEAL is the first infrastructure platform in Mexico and I believe it is well positioned to continue to generate solid results and growth in the years to come. “

In November 2021, FIBRA IDEAL, the infrastructure investment trust managed by IDEAL, indicated plans for a follow-up public offering that may include both a primary and secondary component. FIBRA IDEAL was established in 2020 when Ontario Teachers ‘and CPP Investments’ closed their first direct investment in IDEAL. The FIBRA IDEAL offering, which is slated for early 2022, is expected to precede Ontario Teachers ‘and CPP Investments’ increased stake in IDEAL.

“Our continued investment in IDEAL continues to provide RPC Investments with access to a diversified portfolio of real assets with stable cash flow, while also providing the potential for future growth through development opportunities in from Mexico infrastructure sector, ”said Laurent Laurent, Managing Director, Head of Infrastructure, RPC Investments. “We look forward to the continued growth of this platform alongside our valued partners. “

ABOUT IDEAL

IDEAL is an independent publicly traded company listed on the Mexican Stock Exchange (IDEALB1.MX). IDEAL engages in the development, promotion, operation and administration of infrastructure projects in Mexico and Latin America. IDEAL is one of the largest infrastructure companies in Latin America, with 18 infrastructure concessions in different sectors, including toll roads, water and logistics terminals.

IN REGARDS TO ONTARIO TEACHERS’

The Ontario Teachers’ Pension Plan Board is the administrator of the from Canada the largest single-professional pension plan, with 227.7 billion Canadian dollars in net assets (all figures at June 30, 2021 unless otherwise stated). It has a diversified global portfolio of assets, approximately 80% of which is managed internally, and has achieved a total annual net fund return of 9.6% since the inception of the plan in 1990. Ontario Teachers’ is an organization independent whose head office is located at Toronto. His Asia Pacific regional offices are located in Hong Kong and Singapore, and his Europe, Middle East & Africa the regional office is in London. The defined benefit plan, fully funded at January 1, 2021, invests and administers the pensions of the province of from ontario 331,000 active and retired teachers. For more information, visit otpp.com.

ABOUT CPP INVESTMENTS

The Canada Pension Plan Investment Board (CPP Investments â„¢) is a professional investment management organization that manages the Fund in the best interests of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified asset portfolios, investments are made around the world in public stocks, private stocks, real estate, infrastructure and fixed income securities. Based at Toronto, with offices in Hong Kong, London, Luxembourg, Bombay, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently from the Canada Pension Plan and at arm’s length from governments. TO September 30, 2021, the Fund has totaled C $ 541.5 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook Where Twitter.

IDEAL logo (CNW Group / Canada Pension Plan Investment Board)

IDEAL logo (CNW Group / Canada Pension Plan Investment Board)

CPP Investments logo (CNW Group / Canada Pension Plan Investment Board)

CPP Investments logo (CNW Group / Canada Pension Plan Investment Board)

SOURCE Canada Pension Plan Investment Board

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