Cipali to Get A Canadian Investor

By Editorial Team 30/09/2019
Summary

Cikampek-Palimanan (Cipali) toll road’s management will change as soon as possible following the acquisition of the Canada Pension Plan Investment Board (CPPIB). The Canadian pension fund will buy the shares of Cipali toll road operator, PT Lintas Marga Sedaya.

CPPIB, collaborating with PT Bhaskara Utama Sedaya (BUS), the sub-holding company of PT Astra Tol Nusantara or Astra Infra, will buy PT Lintas Marga Sedaya’s stake from a Malaysian company, the UEM Group Berhad. The deal will set Bhaskara Utama Sedaya as the majority shareholder, holding 55 percent of total shares, while CPPIB will own 35 percent of the remaining shares.

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