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On Feb. 6, 2023, global investment group CDPQ announced its agreement with Transurban to purchase a 50% interest in the A25 Concession for $355 million. The A25 Concession consists of a 7.2 km toll road and bridge network crucial to the Greater Montréal transportation system. This acquisition gives CDPQ a significant share in an asset central to Montréal's transportation and merchandise movement in Québec and Eastern Canada. With this 50% interest, CDPQ will co-manage the A25 Concession. This agreement marks the second major collaboration between CDPQ and Transurban, a top global operator in the sector, following their 2021 investment in WestConnex, Australia's largest road infrastructure project. The toll road serves north-eastern Montréal and eastern Laval, praised for its sustainability and efficient routes. Emmanuel Jaclot, CDPQ's Executive Vice-President, emphasized the A25's importance in easing traffic and enhancing public transit. Transurban CEO, Scott Charlton, highlighted the ongoing constructive partnership with CDPQ, with both parties aiming for long-term goals in North America. The transaction won't affect A25 customers, with services and the Québec government's toll-free measures for electric vehicle owners remaining unchanged. The deal is set to finalize by March 31st, pending standard closing conditions and approvals.
Parties
Company
Caisse de dépôt et placement du Québec (CDPQ)
Company
Transurban
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
$ 355,000,000Deal Status
ClosedClosing Date
28 February 2023