The Caisse de dépôt et placement du Québec, the Ontario Teachers’ Pension Plan and, on behalf of some clients, the Alberta Investment Management Corp., have each agreed to sell 1.8 million common shares of TMX Group Ltd., the operator of the Toronto Stock Exchange, for $57.70 a share.
As of Aug. 2, 2016, the selloff by the funds represents 9.9 per cent of the TMX Group’s issued and outstanding common shares.
After the trade, each pension plan will hold roughly five per cent of the company’s common shares. Each plan will also continue to have a nominee on the TMX Group’s board of directors.
Read: AIMCo’s philosophy on sustainable investing
In other news, AIMCo, on behalf of certain clients, has agreed to a future purchase of an additional US$200 million in Series B preferred units of Howard Energy Partners, a natural gas provider based in Texas. On Aug. 22, the pension plan completed its initial purchase of $300 million in preferred units.
“Howard Energy Partners has set forth a plan to position the company for further growth that will see it executing on a number of key projects backed by long-term contracts with credit-worthy counterparties, which when complete will contribute meaningfully to its growth as a diversified midstream company,” Kevin Uebelein, AIMCo’s chief executive officer, said in a release.
Read: AIMCo invests in Alberta hydraulic fracturing company