CDPQ and ICA announce partnership to invest in Mexican transport projects

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CDPQ and ICA announce partnership to invest in Mexican transport projects

Empresas ICA, S.A.B. de C.V and Caisse de dépôt et placement du Québec (CDPQ) have reached an agreement to create an operational platform dedicated to transportation projects in Mexico.

The platform initially includes four projects which are:

  • the Acapulco Tunnel,
  • the Mayab Tollroad,
  • the Río Verde - Ciudad Valles Highway and
  • the La Piedad Bypass.

Under the terms of this agreement, ICA will own 51% of the platform and CDPQ the remaining 49%. Upon closing, CDPQ will pay ICA about $3,013 million for its equity interest.

Completion of the transaction is subject to standard closing conditions and approval from the Government of Mexico, and is targeted for the second quarter of 2015.

ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges.

CDPQ is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As of December 31, 2014, it held C$226 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests in major financial markets, private equity, infrastructure and real estate, globally. Its infrastructure portfolio totals more than C$10 billion in assets.

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