OMERS has penned an agreement to acquire Allianz Capital Partners’ (ACP) 13.5 percent stake in Interise Trust, one of the largest Indian infrastructure investment trusts (InvIT) in the roads sector.
This will increase OMERS’ stake in Interise Trust to 34.8 percent from the current 21.3 percent. The Canada Pension Plan Investment Board (CPP Investments) will remain the largest investor, and the remainder is distributed between domestic investors. Financial terms of the deal were not disclosed.
OMERS has been invested in Interise Trust, formerly known as IndInfravit Trust, since 2019. Interise Trust holds a diversified portfolio of 17 operational road concessions across eight states in India, of which 14 are toll roads and three are annuity roads, with an aggregate length of approximately 7,300 lane kilometers (4,536 miles).
“We’re excited to increase our stake in Interise Trust,” said Christopher Curtain, head of Asia Pacific at OMERS Infrastructure.