La Caisse Acquires Transurban's Remaining 50% Stake in A25 Concession for CAD 280 Million
MONTRÉAL, June 9, 2026 — Global investment group La Caisse has entered into an agreement to acquire Transurban's remaining 50% interest in the A25 Concession for CAD 280 million, bringing its ownership stake from 50% to 100% and making it the sole owner of the strategic Montréal-area infrastructure asset, the firm announced Monday.
The equity investment marks the completion of La Caisse's consolidation of the A25 Concession, a 7.2-kilometer public-private partnership (PPP) facility comprising a highway segment and a toll bridge that connects the east end of Montréal with communities on the North Shore. The transaction follows La Caisse's initial investment in 2023, when it first acquired a 50% stake from Transurban.
A Scarce PPP Asset in a Growing Economic Corridor
The A25 Concession is one of only two PPP toll roads in Québec. The facility connects the east end of Montréal to fast-growing economic areas on the North Shore, serving as a mobility link in the Greater Montréal transportation network.
"By becoming sole owner, La Caisse strengthens its position in a Québec asset it knows well, while gaining greater flexibility in its management," said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse. "As one of only two public-private partnership toll roads in Québec, the A25 Concession plays an important role in mobility across Greater Montréal by connecting the east end of Montréal to fast-growing economic areas on the North Shore."
La Caisse's press release characterizes the CAD 280 million outlay as an equity investment. Terms relating to any project-level debt or refinancing were not disclosed.
Plenary Americas to Support Day-to-Day Operations
Following the close of the transaction, Plenary Americas — a La Caisse portfolio company — will support the asset's day-to-day operations. Plenary Americas is described by La Caisse as a recognized developer, manager, and operator of infrastructure assets, with particular expertise in PPP models and multiple road assets across North America.
La Caisse emphasized that A25 customers will not be affected by the ownership change. Payment methods and customer support channels, including the asset's website and service center, will continue to operate without interruption.
Transaction Context
La Caisse reported net assets of CAD 517 billion as of December 31, 2025, deployed across public markets, private equity, infrastructure, real estate, and private credit. The firm operates under a dual mandate: generating optimal long-term returns for its 48 depositors — representing more than six million Quebecers — while contributing to Québec's economic development.
Full ownership of the A25 Concession provides La Caisse with sole decision-making authority over the asset's management, a governance advantage the firm acknowledged through its reference to "greater flexibility in its management."
La Caisse is a registered trademark of Caisse de dépôt et placement du Québec. The firm has been active in major financial markets, private equity, infrastructure, real estate, and private credit for more than 60 years.
Sources:
La Caisse press release, June 9, 2026: https://www.lacaisse.com/en/news/pressreleases/caisse-become-sole-owner-a25-concession-acquiring-transurbans-remaining-stake