Detroit River Rail Tunnel

CP: 100% Stake In Detroit River Rail Tunnel

Canadian Pacific and OMERS, the defined benefit pension plan for municipal employees in the province of Ontario, have entered into a purchase agreement whereby CP will acquire full ownership of the Detroit River Rail Tunnel from certain affiliates of OMERS. The purchase price for the transaction, currently expected to close at the end of 4Q2020, is approximately US$312 million and remains subject to customary closing conditions, including regulatory approvals.