The Canada Pension Plan Investment Board (CPPIB) is buying a 10.4% equity stake in Transportadora de Gas del Perú (TgP) for US$200 million ($222.3 million).
TgP is the largest transporter of natural gas and natural gas liquids in the country.
The CPPIB is acquiring the 10.4% interest from Graña y Montero, the largest engineering and construction company in Peru.
“TgP fits well with our infrastructure portfolio and represents our first infrastructure investment in Peru,” says André Bourbonnais, CPPIB’s senior vice-president of private investments.
“This transaction is in line with our strategy to invest in key sectors in Latin America,” he adds. “Our acquisition of a stake in TgP represents the cornerstone of a long-term partnership with Graña y Montero, as we continue to pursue infrastructure opportunities in select markets in Latin America.”
Related articles: