CPPIB completed the acquisition of a 45% stake in LMS from UEM Group.

Canada Pension Plan Investment Board (CPPIB), a leading private equity firm, completed the acquisition of a 45% stake in PT Lintas Marga Sedaya (LMS), the concession holder and operator of the Cikopo-Palimanan (Cipali) toll road from UEM Group for $500m The transaction is expected to be completed in the fourth quarter of 2019, subject to customary closing conditions, including regulatory approvals. “As CPPIB’s first infrastructure investment in Indonesia, this deepens the Fund’s commitment to the Asia-Pacific region as well as our focus on investments in new markets," Suyi Kim, CPPIB Senior Managing Director.