Quebec, Ontario billionaires join bidding for Via HFR electric train deal
Montreal billionaire André Desmarais has joined one of the consortiums angling to build and jointly operate the federal government’s new high-frequency electric railway.
Global News has learned that a newly incorporated Desmarais company, DF Canada Infrastructure Group Inc. of Montreal, has joined another billionaire, Toronto businessman Larry Tanenbaum and his Kilmer Transport as members of Intercity Rail Partners, one of three consortiums bidding on the railway that will serve riders between Windsor, Toronto, Ottawa, Montreal and Quebec City.
The precise roles of DF Canada Infrastructure Group and Kilmer Transport, and their financial contributions to the Intercity Rail Partners venture are unclear.
Tendering documents identify both as “equity members” but say nothing more.
The billionaires are among several high-powered infrastructure investors, builders and operators that Intercity Rail has assembled.
Neither the politically connected Desmarais, whose company believes “decarbonization is a generational opportunity,” nor Tanenbaum would comment.
André Desmarais has been deputy chairman of Power Corp. since 2008. He was previously president and co-chief executive officer of the financial conglomerate that owns Investors Group, Great-West Life, Mackenzie, Wealthsimple and others, from 1996 until he left the job in February 2020.
Kilmer Transportation is an affiliate of Tanenbaum’s Kilmer Group. It owns stakes in conglomerate Maple Leaf Sports and Entertainment (owner of Toronto’s Raptors, Maple Leafs, Marlies, Argonauts and Toronto FC sports teams).
Tanenbaum’s Kilmer Sports also paid more than $100 million for Toronto’s new WNBA women’s professional basketball franchise.
The Liberal government has prohibited the three
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