The stake has been acquired from GS Infrastructure Partners and Infracapital, which are controlled by Goldman Sachs and Prudential respectively.

CPPIB and Hermes said in a statement that they may also acquire a further 3.33% subject to pre-emption rights.

Borealis Infrastructure and Government of Singapore Investment Corporation (GIC) remain as ABP shareholders.

The transaction is conditional on customary anti-trust clearances and is expected to close in summer 2015.

ABP