In 1999, Ontario's Conservative government (run by Mike Harris) sold it for 3.1 billion dollars to a private consortium of Canadian and Spanish businesses - Canada Pension Plan Investment Board (50.01%), Cintra Global S.E. (43.23%), and AtkinsRéalis Canada Inc. (6.76%).
According to a 2023 report, the annual revenue was $1,495.5 million ($1.5 billion) and net income was $567.3 million, up 13% and 30% respectively.
Edit: (From Wikipedia)
The concession has been called a "cash cow" for AtkinsRéalis (then known as SNC-Lavalin), while local media has commented on the "huge jump" or "soar" in profits.
In March 2025, AtkinsRéalis sold their remaining share of the highway bringing the ownership totals to as follows:
Indirectly owned subsidiaries of Canada Pension Plan Investment Board: 51.71%
Cintra Global S.E., a subsidiary of Spanish firm Ferrovial S.A.: 48.29%
Does the fact that the Canadian pension plan investment board has control of it mean that it's still kind of benefits Canadians at least a little bit? Or does that not matter, I guess?
19
u/I-tie-my-own-shoes 17d ago
Since I’m lazy, can you just tell me?