PSP Investments Acquires 7.51% Stake in 407 ETR for $2.39 Billion

Public Sector Pension Investment Board (PSP Investments), one of Canada's largest pension investors, has strategically acquired a 7.51% stake in the 407 ETR, a toll road in the Greater Toronto Area, from the Canada Pension Plan Investment Board (CPP Investments) for approximately $2.39 billion. The deal is part of a broader transaction involving CPP Investments and infrastructure firm Ferrovial purchasing an additional 6.76% stake in 407 ETR from engineering and nuclear services company AtkinsRéalis. Ferrovial will hold 48.29% ownership, while CPP and institutional investors will control 44.20%, and PSP Investments will hold 7.51% following the transactions. Both CPP Investments and PSP Investments emphasized the importance of this adjustment in enhancing their infrastructure strategies, aiming to optimize returns and maintain quality partnerships. These transactions are subject to standard closing conditions. PSP's acquisition is its largest infrastructure investment in Canada to date, supporting its broader strategy of investing in high-quality, essential global infrastructure assets.