OMERS Infrastructure sells property to Confederation Bridge concession operator

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Posted on 04/15/2022


OMERS Infrastructure has signed an agreement to sell 100% of its shares in BPC Maritime Corporation to VINCI Concessions Canada Inc. (part of the VINCI Group). Through BPC Maritime, OMERS holds a 65.1% interest in Strait Crossing Development Inc. (SCDI), which operates the Confederation Bridge under a long-term concession expiring in 2032. increases its stake in the company from 19.9% ​​to 85%. It is fully consolidated by VINCI.

OMERS first invested in the Strait Crossing Development in 2003. The Confederation Bridge is a 12.9-kilometer bridge that provides the only permanent transportation infrastructure between New Brunswick and Prince Edward Island. Strait Crossing Development owns the Confederation Bridge concession contract until 2032. SCDI had sales of €30.8 million in 2019.

The transaction is subject to regulatory approvals. No other financial information will be disclosed.

Advisor
OMERS Infrastructure was advised by RBC as financial advisor and Norton Rose Fulbright as legal advisor.

VINCI Highways, a subsidiary of VINCI Concessions, is a road concessions, operations and mobility services company. We plan, finance, build and operate highways, bridges, tunnels, city streets and mobility services on a network of more than 4,000 kilometers in 16 countries.

Keywords: Ontario municipal employee pension scheme.

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