The Ontario Municipal Employees Retirement System is a part owner of a European medical diagnostics supply business.
The OMERS has acquired 37.5 per cent of the Germany-based Amedes Group from Antin Infrastructure Partners. The investment is the Ontario-based plan’s fourth infrastructure investment in Germany.
The Amedes Group, which specializes in medical testing, operates more than 75 laboratories and speciality medical sites across Austria, Belgium and Germany.
The OMERS also signed an agreement to acquire a 19.4 per cent stake in Azure Power Ltd. for US$219 million ($275 million). The transaction is expected to close in early August.
The OMERS and the Ontario Teachers’ Pension Plan are joining a consortium that’s acquiring a 50 per cent stake in Scotia Gas Networks Ltd. a U.K.-based gas distribution network working to repurpose existing gas infrastructure to deliver renewable hydrogen.
Under the terms of the deal, the OMERS will receive a 25 per cent share in the business. The Ontario Teachers’, which is already a part-owner of the SGN, will see its share grow by 12.5 per cent to 37.5 per cent.
In other news, the Canada Pension Plan Investment Board is allocating 1.04 billion Brazilian reals ($250 million) to a logistics-focus fund.
The investment equates to 39.6 interest in the GLP Brazil Development Partners 2 fund, which is to be used to develop nine Class-A logistics parks outside of São Paulo. The fund intends to capitalize on the boom in Brazil’s e-commerce sectors, according to a press release.