Ontario Municipal Employees' Retirement System, Toronto, and Abu Dhabi Investment Authority are part of a group that will acquire Autobahn Tank & Rast Holding, a German automotive service and hospitality company.
Terms were not disclosed.
The acquisition group includes Borealis Infrastructure Management and Infinity Investments, the infrastructure units of the C$72 billion ($55.2 billion) OMERS and the ADIA, which is estimated by the Sovereign Wealth Fund Institute to have $773 billion in assets. Also in the group are Allianz Capital Partners and MEAG Munich Ergo AssetManagement GmbH, the money management unit of insurer Munich Re.
Tank & Rast was acquired from private equity firm Terra Firma Capital Partners and Deutsche Asset & Wealth Management.
Tank & Rast operates 390 service areas, 350 automotive service stations and 50 hotels along Germany's autobahn freeway network, according to a news release.