Ontario Teachers’ Pension Plan has completed the purchase of approximately 70% of three Australian telecommunications companies from Leighton Holdings Ltd.
The acquisition of Nextgen Networks, Metronode and Infoplex values 100% of these businesses at A$885 million (C$853.7 million).
Nextgen manages high-speed, carrier-grade fibre network services, Metronode provides data centre and related value-added services, and Infoplex provides cloud and ICT services.
The businesses have been brought together under a new ownership structure and have been rebranded as the Nextgen Group.
Leighton, based in Sydney, will retain an approximately 30% ownership share in the Nextgen Group, which will remain headquartered in Australia with existing management remaining in place.
This transaction was led by Teachers’ long-term equities group, which focuses on direct investments with steady cash flow, growth potential over a long-term horizon and a low to moderate level of risk.
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