CPPIB to acquire a 15.9% stake in IndInfravit Trust from L&T and SIPL for $143m.

Canada Pension Plan Investment Board agreed to acquire a 15.9% stake in IndInfravit Trust, an infrastructure investment trust, from infrastructure developers L&T Infrastructure Development Projects and Sadbhav Infrastructure Project, for $143m. CPPIB has acquired 7% of the units from Sadbhav Infrastructure Project and will acquire an additional 8.9% from L&T IDPL, which, upon completion, will increase CPP Investments’ stake in IndInfravit from 27.9% to 43.8%. “Furthering our commitment to IndInfravit reflects our ongoing commitment to investment in India, as well as our ability to support IndInfravit’s future growth opportunities and enhances our ability to deliver solid long-term risk-adjusted returns to CPP contributors and beneficiaries," Scott Lawrence, CPPIB Managing Director and Head of Infrastructure.