Canada Pension Plan Investment Board (CPP Investments) and its partners AustralianSuper and UniSuper, will acquire 50 percent of Transurban Chesapeake, a toll-road business located in the Greater Washington Area.
CPP Investments will hold a 15 percent interest in Transurban Chesapeake with an initial investment of $624 million, plus a potential earn-out payment to Transurban over the next five years of up to $21 million. Transurban will retain a 50 percent stake in the business.
The Express Lanes are a connected network of dynamically tolled lanes on Interstate Highways 495, 95 and 395, key arterial roads in the Greater Washington Area. The 495 Express Lanes (13.6 miles) opened in 2012 and operate on a portion of the Capital Beltway. The 95 Express Lanes (31 miles) opened in 2014 and are reversible lanes on Interstate 95 in Northern Virginia. The 395 Express Lanes (8 miles) opened in 2019 and are reversible lanes operating on Interstate 395 in Northern Virginia.
