![Teachers’ to benefit from Northumbrian takeover](https://www.benefitscanada.com/wp-content/uploads/sites/7/2011/08/textbook-apple-school-e1539112950790.jpg)
The Ontario Teachers’ Pension Plan (Teachers’) is preparing to sell Northumbrian Water Group PLC to Hong Kong’s Cheung Kong Infrastructure Holdings for $3.8 billion, according to regulatory filings by Northumbrian.
Teachers’ owns 26.8% of the company, buying the stake in 2005 for $615 million. Teachers should pull in about $1.01 billion from the sale, for a profit of about $403 million.
Cheung Kong is controlled by Hong Kong billionaire Li Ka-shing. Northumbrian provides water services to nearly 3 million people in the north-east of England.