Toronto, Canada (August 15, 2019) – A company controlled by Canada Pension Plan Investment Board (CPPIB) has acquired a 10.01% equity stake of 407 International Inc. (407 International), which holds a concession over the 407 Express Toll Route (407 ETR), from SNC-Lavalin Group Inc. (SNC-Lavalin). Under the terms of the agreement, CPPIB agreed to pay $3.0 billion to SNC-Lavalin on closing, with an additional $250 million set to be paid over 10 years, conditional on achieving certain financial targets related to the performance of the toll highway.