Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers' Pension Plan have entered into a definitive agreement to acquire a stake in Impulsora del Desarrollo y el Empleo en América Latina (IDEAL) to further invest in key infrastructure projects throughout Mexico.
IDEAL's portfolio includes 18 infrastructure concessions in Mexico (13 toll roads, three logistics terminals and two wastewater treatment plants), as well as an electronic toll collection service business and an operations business. IDEAL, Ontario Teachers and CPPIB are already partners in the Arco Norte and Pacifico Sur toll roads.
Under the terms of the agreement, CPPIB and Ontario Teachers have committed to launch a tender offer in the Mexican stock exchange for shares in IDEAL, subject to the fulfillment of certain conditions, at MXN 43.96 ($2.26) per share. If successful, CPPIB will acquire a 23.7 percent interest in IDEAL alongside a 16.3 percent stake by Ontario Teachers. The current majo
