The Canada Pension Plan Investment Board is selling its 49 per cent stake in Island Star Mall Developers Private Ltd. to Phoenix Mills Ltd. and its affiliates.
The investment organization is expecting the net proceeds from the sale to reach nearly $871 million. The asset was established by the CPPIB and Phoenix Mills in 2017 to develop retail-led mixed-use projects in India.
“Through our longstanding partnership with Phoenix Mills, a seasoned retail-led mixed-use operator in India, we have been able to capture opportunities within this market,” said Hari Krishna, managing director and head of real estate India at the CPPIB, in a press release.
Read: CPPIB investing in student housing, Ontario Teachers’ selling European airport assets
The Caisse de dépôt et placement du Québec is investing up to $3.2 billion in Sizewell C, a nuclear power station in England. The transaction will give the Caisse a 20 per cent stake in the project, which is being completed alongside the U.K. government, EDG Group, Centrica and Amber Infrastructure Ltd.
“Sizewell C is a positive development for U.K. consumers, as it is expected to provide long-term reliable baseload power and low-carbon energy to more than six million homes across the U.K., while contributing to the creation of 10,000 new jobs at peak construction and thousands more in the nationwide supply chain,” said Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, in a press release.
The Caisse is also reinvesting in Ocean Group as part of a shareholding structure change for the firm, designed to welcome new strategic partners.
The investment is being completed along with $145 million worth of equity interest acquisitions from the government of Quebec and Investissement Québec. The Caisse and Investissement Québec will act as equal shareholders in the firm.
The Caisse is also finalizing the privatization of Innergex Renewable Energy Inc. As part of this process, the investment organization intends to syndicate up to 20 per cent of the capital it invested in the firm.
The company needed shareholders aligned with its long-term potential, protected from stock market cycles, said Jaclot in a press release. “This privatization immediately provides Innergex with increased financial agility to accelerate the development of large-scale projects.”
Read: Caisse buys renewable energy operator, invests in $300M debt facility for internet company
In other news, the Public Sector Pension Investment Board is joining an investment deal supporting a vehicle designed to acquire assets in the Australian industrial sector.
PSP Investments is committing up to A$800 million in the Aliro Group Industrial Vehicle and will partner with the Aliro Group. The transaction will give the investment organization an initial interest in AGIV in addition to providing significant growth capital.
“This investment gives us immediate scale and access to a high-quality portfolio and development pipeline, complementing our already extensive investment portfolio in Australia and aligning with PSP Investments’ real estate global sector convictions,” said Stephane Jalbert, managing director and head of Europe and Asia-Pacific at PSP Investments, in a press release.
The Ontario Teachers’ Pension Plan is completing a 100 per cent acquisition of Donte Group, a dental provider in Spain in a deal valued at roughly €1 billion. The firm operates a clinic network overseeing 426 clinics and 2,200 dentists across four brands.
“This investment builds on our experience in healthcare services globally and reflects our conviction in investing in leading companies operating in our core sectors in Europe,” said Inaki Echave, senior managing director and head of EMEA private capital at the Ontario Teachers’, in a press release.