The Caisse de dépôt et placement du Québec is purchasing infrastructure developer and operator Plenary Americas, the North American branch of Plenary Group Ltd.
As part of the deal, the Caisse is acquiring Plenary Americas’ operating business, as well as a controlling stake in its existing public-private partnership portfolio.
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“[Plenary Americas] is well positioned to act on growth opportunities, notably in the United States, where infrastructure needs are rising and long-term investors, such as CDPQ, can play a role in bridging the funding gap,” said Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, in a press release. “For CDPQ, it is an opportunity to strengthen our presence in social infrastructure and create a powerful platform to develop assets that are at the heart of communities.”
The Caisse currently holds a 20 per cent interest in Plenary Asia Pacific.