CPP Investments pays Rs 1,005 cr for addl 15.9% stake in IndInfravit Trust

Units were bought in two separate deals--7% from Sadbhav Infra and 8.9% L&T IDPL in a deal that will happen later

Canada Pension Plan Investment Board (CPP Investments), the largest Canadian pension fund manager, today said it bought an additional 15.9 per cent of the total units in IndInfravit Trust for Rs 1,005 crore. The units were bought in two separate deals.

CPP Investments has acquired seven per cent of the units from Sadbhav Infrastructure Project and will acquire an additional 8.9 per cent from L&T IDPL, which, upon completion, will increase CPP Investments’ stake in IndInfravit from 27.9 per cent to 43.8 per cent .

IndInfravit is an infrastructure investment trust (InvIT) sponsored by L&T Infrastructure Development Projects Limited . Launched in