CPPIB acquired 45% in Cipali toll road concessionaire PT Lintas Marga Sedaya
Canada Pension Plan Investment Board (CPPIB) has acquired 45% interest in PT Lintas Marga Sedaya, the concession holder and operator of the Cikopo-Palimanan (Cipali) toll road in Indonesia from PLUS Expressways International Bhd, a unit of Malaysia’ UEM Group Bhd under Khazanah Bhd.. The investment is in partnership with PT Baskhara Utama Sedaya, a wholly-owned subsidiary of PT Astra Tol Nusantara.
Cikopo-Palimanan (Cipali) is a 117 km toll road that connects the existing Jakarta–Cikampek Toll Road and Palimanan–Kanci Toll Road and is part of the Trans-Java toll road.
Allens, Widyawan & Partners and Linklaters provided legal advisory services for CPPIB.
Country updates
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