CDPQ Sells 20% Stake in Plenary's Asia Pacific Business to ADQ
Florence Chong of IPE Real Assets reports ADQ buys 49% of infrastructure platform Plenary as CDPQ sells 20% stake ADQ, an Abu Dhabi state-owned investment company, has purchased a 49% stake in global public infrastructure group Plenary for an undisclosed price, believed to be around A$1bn (€609m). Canadian institutional investor CDPQ is selling its 20% stake. The remaining 29% interest in the Melbourne, Australia-based firm is held by Plenary founders and executives. As part of the partnership, Plenary and ADQ will establish a co-development and investment platform to focus on public and social infrastructure investments in high-growth geographies, including the Middle East and Central Asia. ADQ will invest primary capital in Plenary to accelerate its growth in Australia, the Middle East, Asia, Europe. Plenary chair John O’Rourke said: “We have a strong strategic alignment with ADQ. The partnership will accelerate our growth in Australia and internationally, and the Middle East