Teachers’ will invest $84 million dollars in NuVista and own approximately 14% of the company once the transaction closes sometime in mid-March.
The fund currently has a 9.8% stake in NuVista.
The proceeds of the investment will initially be used to reduce the aggregate outstanding indebtedness of NuVista following completion of the acquisition of Rider.
To comment on this story, email craig.sebastiano@rci.rogers.com.