The Ontario Municipal Employees’ Retirement System is acquiring an indirect five per cent stake in Maple Leaf Sports & Entertainment Ltd.
The shares are part of a 20 per cent stake the OMERS is buying in Kilmer Sports Inc., which owns 25 per cent of MLSE. The deal is worth $546.8 million. The MLSE owns the Toronto Maple Leafs and Toronto Raptors among other professional teams.
“This is an exciting and unique opportunity for OMERS members in Ontario communities to be connected to these iconic sports teams in their own backyard,” said Blake Hutcheson, president and chief executive officer at the OMERS, in the release.
In other news, the Canada Pension Plan Investment Board is selling a 24.5 per cent stake in two German-based wind farm assets in a deal worth about $374 million.
The assets will be sold to a wholly owned subsidiary of Enbridge Inc. The stake in the wind farms, which produce a combined 2.5 million megawatts of power, was originally acquired by the CPPIB in 2018.
“The renewable energy sector — and offshore wind specifically — remains an important investment strategy for us and we will continue to seek opportunities in the sector that best fit the scale and flexibility of our capital,” said Bill Rogers, managing director and global head of sustainable energies at the CPPIB, in the release.