CPP Investments, the investment board of the Canada Pension Plan, will invest R$2.5 billion to purchase a 9.5% stake in V.Tal, a Brazilian fiber-to-the-home (FTTH) network provider.
V.Tal currently accounts for approximately 14% of Brazil's fiber optic network, covering nearly 20 million homes nationwide. The company intends to continue to expand its footprint in Brazil. CPP Investments has made significant investments in Latin America, investing C$30 billion in real estate, infrastructure, public equities, private equity funds and direct investments. These investments represent 6% of the Fund's total assets as of September 30, 2022.
The transaction is subject to customary closing conditions and regulatory approvals.
