CANADA - The shareholders of the Macquarie Communications Infrastructure Group (MCG) have ratified the acquisition offer made by the Canada Pension Plan Investment Board (CPPIB) in March.
CPPIB Private Investments senior vice-president Mark Wiseman said: "This transaction enables us to expand our infrastructure portfolio with the acquisition of a diversified group of high-quality infrastructure assets that we believe will deliver stable cash flows to the CPP Fund for many years to come."
The transaction, proposed to be implemented via inter-conditional schemes of arrangement, is still subject to formal court approval in Bermuda and Australia on July 2 and July 3 respectively.
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