CDPQ acquires 20% of Plenary Group Holdings

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Today Caisse de dépôt et placement du Québec (CDPQ) entered into an agreement to acquire a 20% stake in Plenary Group Holdings (Plenary), which controls all of Plenary Group’s Australian operating businesses and infrastructure asset portfolio. As part of this transaction, Plenary will issue new shares in a move to secure additional capital to fund its participation into future anticipated projects. CDPQ is a long-term partner of Plenary, having invested more than A$200 million in seven Plenary-originated Australian projects since 2012, including the Victorian Comprehensive Cancer Centre. This A$1 billion centre-for-excellence for cancer research and treatment delivered on time and on budget opened in June this year. With CDPQ’s existing partnership in Australian assets and Plenary’s growing international footprint, the transaction provides strong value for both businesses. false false false Plenary Group Holdings also holds an investment in Plenary’s activities in Canada and the United States through a minority equity investment in the Plenary North America business. The transaction is subject to a number of government approvals and consents. CDPQ’s strong presence in Australia In addition to its investments alongside Plenary since 2012, CDPQ acquired in 2015 close to 25% of Transgrid, the electricity transmission network of the State of New South Wales, and close to 30% of the Port of Brisbane in 2013. CDPQ also announced, very recently, its acquisition of a 44% interest in Greenstone, a leading Australian insurance distributor, and holds an interest in I Med, Australia’s largest private medical imaging network. In 2015, Ivanhoé Cambridge, CDPQ’s real estate subsidiary, also acquired 25% of Liberty Place, a high-quality office building complex located in Sydney. Last year, CDPQ opened an office in Australia that operates under its subsidiary, CDPQ Sydney, and has built a team of experienced professionals focusing on local investment opportunities. ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2015, it held C$248.0 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages. ABOUT PLENARY GROUP Plenary Group is an independent long-term investor, developer and manager of public infrastructure, with businesses in Australia, Canada and the US. Plenary has quickly grown into the largest specialist public private partnership (PPP) business in the region, with 13 projects in Australia that have a project capitalisation of more than A$11 billion. Plenary has a global project portfolio of 38 projects with a project capitalisation of more than A$24 billion. For more information, visit plenarygroup.com. false false false