Allens has advised Canada Pension Plan Investment Board (CPPIB) on the acquisition of a 45% interest in PT Lintas Marga Sedaya, the concession holder and operator of the Cikopo-Palimanan (Cipali) toll road in Indonesia. The investment is in partnership with PT Baskhara Utama Sedaya, a wholly owned subsidiary of PT Astra Tol Nusantara.
Headquartered in Toronto, CPPIB is a global investment manager with a diversified portfolio of infrastructure assets, public equities, private equities, real estate and fixed income instruments.
CPPIB’s first infrastructure asset in Indonesia, the 117 km Cipali toll road is located in Java’s most populated and fastest growing region.
‘We were delighted to advise CPPIB on its infrastructure debut in Indonesia, as it looks to deepen its commitment and increase its footprint in the Asia region,’ said lead Partner Wendy Rae.
Allens worked on the transaction with its global alliance partner Linklaters, together with Indonesian firm Widyawan & Partners.