Staff
Ontario Teachers’ Pension Plan (Teachers’) has completed the sale of its ownership stake in Maple Leaf Sports and Entertainment (MLSE) to Bell and Rogers Communications Inc.
The sale, originally announced in December 2011, has obtained all required approvals and Teachers’ has received the $1.32-billion purchase price for its 79.53% ownership share of MLSE.
Teachers’ first invested in the company in 1994 through its private equity investment division, Teachers’ Private Capital (TPC). “MLSE exemplifies our ability to create value over the long term through expansion and diversification, while delivering returns that support our members’ retirement,” said Jane Rowe, senior vice-president, TPC. “We are proud of our role in building this iconic company, and we wish the new owners much success. While we may no longer be owners, we remain avid fans of the company and its teams.”