CPP Investments Announces Investment in Brazil Fiber Network V.Tal
Summary
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 Brazils 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. 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, S\xe3o Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arms length from governments. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.