CPP Investments Raises Stake In Advanced Drainage Systems To 4.6%

  • Canada Pension Plan Investment Board (CPP Investments) has invested $350 million in Advanced Drainage Systems Inc WMS through purchasing shares in a secondary transaction.
  • This transaction increases CPP investments' total ownership stake in the company to 4.6%.
  • "ADS represents the opportunity to invest in a high-quality operator that is a leader in its field. The company's strong competitive positioning and runway for growth make it a good fit for our investment strategy," said Michael Koen, Managing Director, Head of Relationship Investments, CPP Investments.
  • Price Action: WMS shares closed lower by 2.32% at $111.05 on Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!