DUBAI, April 24 (Reuters) - Abu Dhabi state-controlled fund ADQ is acquiring a 49% stake in Australian infrastructure investor Plenary Group, the two companies announced on Wednesday in a deal Australian media reported was worth around A$1 billion dollars ($651 million).
ADQ will acquire shares from existing Plenary shareholders, including all shares owned by Canadian pension fund Caisse de depot et placement du Quebec.
The Canadian fund will continue to be invested in Plenary's Australian assets and remain a majority shareholder in Plenary's separate Americas business.
The majority of the capital from ADQ will be used to accelerate Plenary's growth plans, including in Australia, the Middle East, Asia, the UK and Europe, the companies said.
Plenary and ADQ will also create a platform for co-development and investment concentrating on public and social infrastructure, including in the Middle East and Central Asia.
Plenary said it had been awarded major projects in the Middle East, which were due to be announced shortly.
($1 = 1.5354 Australian dollars)
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