ADQ, an Abu Dhabi-based investment and holding company, has agreed to acquire a 49 percent interest in Plenary, an Australian investor, developer and manager of public urban and community infrastructure, specializing in public-private partnerships. Financial terms were not disclosed.
Plenary said the transaction provides significant additional balance-sheet strength for the company. ADQ will invest primary capital that will be used to accelerate Plenary’s growth in its key markets across Australia, the Middle East, Asia, the United Kingdom and Europe, and will support investment in all future project opportunities.
In addition to the new capital, ADQ will acquire shares from existing Plenary shareholders, including all shares owned by global investment group CDPQ, a longstanding partner of Plenary. CDPQ has invested more than A$500 million ($323 million) in a variety of Plenary projects since 2012 and acquired a stake in the corporate entity in 2016. CDPQ, which also