CPP Investments to buy FCC Medio Ambiente for €965m

• FCC Medio is headquartered in Madrid, Spain
• CPP Investment Board Europe is a wholly owned subsidiary of CPP Investments
• CPP Investments is an active global infrastructure investor based in Toronto, Ontario

Canada Pension Plan Investment Board (CPP Investments), via CPP Investment Board Europe, has agreed to acquire a 24.99 percent stake in FCC Medio Ambiente, a European waste management operator.

CPP Investments will pay €965 million for the stake.

FCC Medio is headquartered in Madrid, Spain. It is the environmental services division of Fomento de Construcciones y Contratas (FCC).

“As major economies seek to meet circular economy objectives, businesses like FCC Medio Ambiente, with differentiated scale, reputation and technological expertise, are well-positioned to capture sustainable growth, providing an excellent long-term investment opportunity for CPP Investments,” said James Bryce, MD, global head of infrastructure, CPP Investments.

The transaction is subject to regulatory approvals.

CPP Investment Board Europe is a wholly owned subsidiary of CPP Investments.

CPP Investments is an active global infrastructure investor with 28 direct investments in 13 countries totalling C$52 billion (€36.02 billion) as of 31 March 2023. The firm is based in Toronto, Ontario.