Owners of $4 Billion Chicago Skyway Said to Explore Stake Sale

Canada Pension Plan Investment Board and OMERS Infrastructure are exploring the sale of their lease attached to the Chicago Skyway Toll Bridge, according to people with knowledge of the matter.

The firms are working with an adviser to solicit interest in the 7.8-mile (12.6 kilometers) toll-road concession, the people said, requesting anonymity to discuss private negotiations. Any transaction is expected to value the asset at more than $4 billion including debt, one of the people said.

CPPIB, OMERS and Ontario Teachers’ Pension Plan agreed to acquire the lease in 2015 in a $2.8 billion transaction that gave each pension fund ...