Allens played a key role in the first infrastructure investment in Indonesia of a major Canadian investor.
The Australian giant counselled advised Canada Pension Plan Investment Board (CPPIB) on its acquisition of a 45% stake in PT Lintas Marga Sedaya (PT LMS), which holds the concession to the Cikopo-Palimanan (Cipali) toll road in Indonesia. The 117km road is located in Java’s most populated and fastest-growing region, Allens said.
CPPIB did not disclose how much it paid for the stake. It invested with partner PT Baskhara Utama Sedaya, a wholly owned subsidiary of PT Astra Tol Nusantara. CPPIB, which has US$24.96bn worth of infrastructure assets around the world, has US$401bn in assets under management.
Allens said that it worked alongside Linklaters, its global alliance partner, as well as Indonesian firm Widyawan & Partners, on the deal.
The firm’s corporate team included partner Wendy Rae, special counsel Gadi Bloch, associates Nicholas Twomey and Nicholas Harding, and lawyer Ben Toscano.
Its projects and development team included partner Leighton O'Brien and senior overseas practitioner Paul Grethe.