May 9, 2018 / 9:39 AM / in 3 months

BRIEF-CPPIB, Allianz To Buy 55 Pct Units In IndInfravit Trust Private Placement

May 9 (Reuters) -

* CANADA PENSION PLAN INVESTMENT BOARD AND ALLIANZ ACT AS ANCHOR INVESTORS IN INDINFRAVIT TRUST PRIVATE PLACEMENT

* CPPIB AND ALLIANZ WILL ACQUIRE A COMBINED 55 PERCENT OF THE UNITS IN INDINFRAVIT TRUST

* CPPIB SAYS WILL INVEST ABOUT C$200 MILLION FOR 30 PERCENT OF INDINFRAVIT UNITS

* ALLIANZ CAPITAL PARTNERS HAS ACQUIRED 25 PERCENT OF INDINFRAVIT UNITS AND L&T IDPL WILL HOLD 15 PERCENT OF THE UNITS - STATEMENT

* REMAINDER OF INDINFRAVIT UNITS HAVE BEEN SUBSCRIBED BY OTHER LOCAL AND INTERNATIONAL INSTITUTIONAL INVESTORS - STATEMENT

* INDINFRAVIT WILL BE LISTED ON NATIONAL STOCK EXCHANGE OF INDIA AND BSE - STATEMENT

* CPPIB AND ALLIANZ CAPITAL PARTNERS WILL ALSO TAKE BOARD POSITIONS IN INDINFRAVIT TRUST Source text for Eikon: [Canada Pension Plan Investment Board (“CPPIB”) and Allianz Capital Partners (“ACP”), on behalf of Allianz insurance companies, announced today that they are acting as anchor investors in the first private infrastructure investment trust in India. IndInfravit Trust (IndInfravit), sponsored by L&T Infrastructure Development Projects Limited (“L&T IDPL”), will initially acquire five operational toll roads and plans to grow in the future through additional investments in road infrastructure in India. CPPIB will invest approximately C$200 million for 30% of IndInfravit units, ACP has acquired 25% of the units and L&T IDPL will hold 15% of the units. The remainder of the units have been subscribed by other local and international institutional investors. L&T IDPL will act as a Sponsor and its subsidiary will act as the Investment Manager for the Trust. IndInfravit will be listed on the National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”). CPPIB and ACP will also take board positions on the Investment Manager and are looking forward to further invest into Indian road infrastructure and grow the platform.] (Mumbai newsroom)

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