CANADA/US - The C$122bn Caisse de dépôt et placement du Québec is part of a consortium of investors bidding for NASDAQ-listed higher education provider Laureate Education.
The all cash transaction, valued at around US$3.8bn, is being led by the company’s chairman and CEO, Douglas L. Becker. Besides Caisse, the consortium includes: Kohlberg Kravis Roberts & Co.; Citigroup Private Equity; S.A.C. Capital Management; SPG Partners; Bregal Investments; Sterling Capital; Makena Capital; Torreal S.A.; and Southern Cross Capital.
The acquisition was unanimously approved by Baltimore-based Laureate’s board of directors and is expected to close at the end of the second quarter, subject to shareholder approval.
In December, the Caisse acquired 401.54 million shares in Magistral Biotech through a reverse take-over.
The acquisition occurred as Magistral entered into a share purchase agreement to acquire all of the issued and outstanding shares in the capital stock of Immunotec Research, which subsequently became a wholly-owned subsidiary of Magistral.
Also in December, the Caisse announced that along with Canadian government financial institution, BDC, it had set up a C$330m (US$285m) fund for Canadian SMEs called AlterInvest.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.