CANADA FUND TO ACQUIRE INTOLL GROUP FOR $3 BILLION

27.08.2010 [20:39]
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Baku, August 27 (AZERTAC). Canada Pension Plan Investment Board agreed to buy Intoll Group for 3.44 billion Australian dollars ($3 billion), gaining stakes in toll roads in Toronto and Sydney.

The offer from Canada`s second-biggest public pension manager values Intoll shares at 1.52 Australian dollars each, 36 percent more than before an initial approach was announced on July 15, the Sydney-based company said in a statement on Friday.

The deal follows the Canadian fund`s failure earlier this year to buy toll-road operator Transurban Group. Intoll shares had fallen 9.3 percent since being created by the split of Macquarie Infrastructure Group in January and the opening takeover proposal.

CANADA FUND TO ACQUIRE INTOLL GROUP FOR $3 BILLION

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