Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan, are set to acquire a 40% stake in Impulsora del Desarrollo y el Empleo en America Latina, a toll road operator for $2.7bn. Under the terms of the agreement, CPPIB and Ontario Teachers’ have committed to launch a tender offer in the Mexican stock exchange for shares in IDEAL, subject to the fulfillment of certain conditions, at MXN$43.96 per share. If successful, CPPIB will acquire a 23.7% interest in IDEAL alongside a 16.3% stake by Ontario Teachers’. The current majority owners of IDEAL’s outstanding shares will maintain a majority shareholding in the company. “Following our investments in Arco Norte and Pacifico Sur, this investment in IDEAL represents an important addition to our infrastructure portfolio. We are excited to deepen our partnership with IDEAL and CPPIB to continue to invest in core infrastructure in Mexico,” Dale Burgess, OTPP Senior Managing Director.