Brief: CPPIB, Allianz To Buy 55 Pct Units In IndInfravit Trust Private Placement

Interise Trust

09/05/2018 10:39

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)
 ((devidutta.tripathy@thomsonreuters.com))