The Ontario Teachers’ Pension Plan purchased or increased its stake in a number of telecom companies last year, according to its 2007 annual report. The plan bought 8 million more shares of BCE—which it plans to take private—to hold 50.8 million shares, valued at approximately $2.03 billion at the end of last year. Out of […]
Toronto lawyer Purdy Crawford and the committee tasked with fixing Canada’s asset-backed commercial paper (ABCP) market received a rough welcome Monday morning as they kicked off a national tour to sell retail investors on a plan to salvage some of the $32-billion in ABCP frozen since August. He faced dozens of angry and suspicious investors […]
The Canadian Radio-television and Telecommunications Commission (CRTC) has approved, subject to certain conditions, the purchase of BCE by a group led by the Ontario Teachers’ Pension Plan. “The application under review proposed to privatize the country’s largest communications company and included significant foreign interest,” says Konrad von Finckenstein, the CRTC’s chairman. “Consistent with previous decisions, […]
The Ontario Teachers’ Pension Plan has agreed to tender its 41.2% interest in Royal Utilities Income Fund to resource firm Sherritt International. Sherritt, which holds a minority stake in the income trust, is offering to take the company private for $700 million, or $12.25 per unit—a 22% premium to Monday’s closing price. Unitholders will receive […]
In the first round of voting, Auckland International Airport Limited (AIAL) shareholders supported the Canada Pension Plan Investment Board’s (CPPIB) offer to buy a minority stake in the company. As of Thursday, more than 60% of shareholders approved the sale, exceeding the board’s expectations. A second vote will be held Friday to finalize the deal, […]
BetaPro Management’s two new agricultural grains exchange-traded funds began trading Wednesday on the Toronto Stock Exchange. The HBP Agricultural Grains Bull+ ETF offers twice the daily performance, while the HBP Agricultural Grains Bear+ ETF offers twice the inverse daily performance of the DJ-AIG Grains Sub-Index, comprised of soybeans, corn and wheat. Those three commodities have […]
The Canada Pension Plan Investment Board (CPPIB), MTS Allstream and The Blackstone Group have formed a consortium to make a deposit and submit an application to bid as a new entrant in the upcoming advanced wireless services spectrum auction. The consortium made a $340 million deposit in the form of letters of credit to Industry […]
The president and CEO of the Canada Pension Plan Investment Board appeared before two Congressional subcommittees in Washington, D.C. on Wednesday and invited U.S. policy makers to examine the structural characteristics and maximum-strength governance model that distinguish the CPPIB from sovereign wealth funds (SWFs). “At the heart of the sovereign funds issue is the question […]
The Canada Pension Plan Investment Board (CPPIB) announced two significant moves involving China and Hong Kong on Tuesday. The board and Teachers’ Private Capital—the private equity arm of Ontario Teachers’ Pension Plan—have each invested US$200 million in FountainVest, a new private equity fund focused on investing in private enterprises in China. “This investment in China […]
The directors of Auckland Airport unanimously recommends that shareholders should sell their shares into the takeover offer from the Canada Pension Plan Investment Board (CPPIB). However, directors are not unanimous on whether shareholders should vote in favour or against CPPIB acquiring up to 40% of the company. A majority of the board recommends shareholders should […]