CPP Investments to sell 49.87% stake in Transportadora de Gas del Peru to EIG-managed vehicles
Canada Pension Plan Investment Board (CPP Investments) is exiting its position in one of Peru’s key energy infrastructure assets, finalizing an agreement to sell its 49.87 percent equity stake in Transportadora de Gas del Peru S.A. (TgP) to vehicles managed by EIG.
CPP Investments began investing in TgP in 2013 and expanded its holding through follow-on transactions from 2014 to 2017, deploying a total of US$1.4bn.
James Bryce, Head of Infrastructure for CPP Investments, said the investment had delivered strong returns for contributors and beneficiaries over the past decade, and that the organisation would continue assessing opportunities in Latin America.
TgP operates the country’s main natural gas and natural gas liquids pipelines under a long-term concession, supplying around 40 percent of Peru’s power generation.
EIG’s global head of Infrastructure, Matt Hartman, said the firm intends to use its experience in infrastructure and regional markets to support TgP’s operational reliability and maintain its role in Peru’s energy sector.
The deal is subject to customary closing conditions and regulatory approvals, with financial terms to be disclosed upon completion.
