The Canada Pension Plan Investment Board (CPPIB) and OMERS Infrastructure are exploring the sale of their lease attached to the Chicago Skyway toll bridge, according to media outlets.
The firms were hoping for a deal valuing the 99-year Skyway lease at $4 billion.
Skyway is a 7.8-mile toll road that forms a critical link between downtown Chicago and its southeastern suburbs. As an essential part of the Chicago Road network, it delivers reliability and time savings for its users in one of the busiest corridors in the United States. The Skyway generated $114.3 million in toll revenue in 2021, up from $84.9 million in 2020.
CPPIB and OMERS with Ontario Teachers’ Pension Plan signed an agreement to acquire Skyway Concession Co. for $2.8 billion in 2015. Ontario Teachers’ Pension Plan reportedly plans to keep its stake.
