The Canada Pension Plan Investment Board (CPPIB), along with Allianz Capital Partners, signed an agreement to obtain a 20 per cent stake in Gas Natural Fenosa’s gas distribution business in Spain.
Allianz Capital Partners and CPPIB will invest EUR 1,500 million for the equity interest, spending EUR 600 million and EUR 900 million, respectively.
“GNDB is a core infrastructure asset that fits well with CPPIB’s infrastructure portfolio, providing long-term stable cash flows for the CPP Fund. We look forward to establishing an enduring partnership with GNF and Allianz in this world-class business, and in adding to our investments in Spain,” Cressida Hogg, Managing Director, Global Head of Infrastructure, CPPIB, is quoted saying.
More: CPPIB invests in largest gas distribution network in Spain.

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