CPP Investments Announces Investment in Brazil Fiber Network V.Tal
TORONTO, Nov. 25, 2022 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced an investment of R$2.5 billion Brazilian reais (C$625 million) for a 9.5% stake in V.Tal, the largest neutral fiber-to-the-home (FTTH) network provider in Brazil.
V.Tal currently accounts for about 14% of Brazil's fiber network and reaches nearly 20 million households across the country. The company intends to continue expanding its footprint in Brazil, a market with substantial unmet demand for high-speed connectivity.
A neutral FTTH network allows various internet service providers to purchase bandwidth on a single fiber network.
The transaction is subject to customary closing conditions and regulatory approvals.
CPP Investments is a significant investor in Latin America, with C$30 billion invested in real estate, infrastructure, public equities, private equity funds and direct investments. These investments represent 6% of the Fund's total assets at September 30, 2022.
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the 21 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2022, the Fund totalled $529 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.
SOURCE Canada Pension Plan Investment Board