SYDNEY, Oct. 1, 2026 /CNW/ -- Canada Pension Plan Investment Board (CPP Investments) today announced that it has entered into an agreement with Transurban to sell its interests in WestConnex and NorthWestern Roads Group (NWRG), two leading transport infrastructure assets serving Sydney.

Under the terms of the transaction, CPP Investments has agreed to sell its 10.5% interest in WestConnex and its 25% interest in NWRG. The transaction is expected to generate gross proceeds of approximately A$4.5 billion (C$4.5 billion). Final proceeds received by CPP Investments will be subject to customary closing adjustments, taxes and costs.

WestConnex is one of Australia's largest transport infrastructure projects, connecting western and south-western Sydney with the Central Business District, Sydney Airport and Port Botany. NWRG comprises Westlink M7 and NorthConnex, which together provide critical passenger and freight connectivity across Greater Sydney.

CPP Investments first invested in Westlink M7 in 2010, followed by investments to develop NorthConnex in 2014 and acquire WestConnex in 2018. Over its ownership period, CPP Investments has worked alongside its partners to support the expansion and operation of these transport infrastructure assets.

"We are pleased with what has been achieved over our ownership period. These assets play an important role in facilitating the movement of people and goods across Greater Sydney and have generated significant long-term value for the CPP Fund," said James Bryce, Managing Director, Head of Infrastructure, CPP Investments. "This transaction allows us to realize value from mature assets as we continue to focus on seeking investments that will help generate attractive long-term returns for CPP contributors and beneficiaries."

CPP Investments has been investing in Australia for more than 16 years and continues to hold significant investments across infrastructure, real estate, public and private equities, credit and investment funds.  These investments include AirTrunk, BAI Communications and Pacific National, alongside major partnerships with Goodman, Lendlease and Dexus. In addition, CPP Investments also has an active Australian-dollar term debt (Kangaroo Bond) program.

The transaction is subject to satisfaction of certain closing conditions, including relevant regulatory approvals.

About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Canada Pension Plan Fund in the best interest of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, we make investments around the world in public equities, private equities, real estate, infrastructure, fixed income and alternative strategies including in partnership with funds. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At June 30, 2026, the Fund totalled C$863.6 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

SOURCE Canada Pension Plan Investment Board