SOUTH AFRICA - A consortium involving the Ontario Teachers' Pension Plan (OTPP) has had a purchase offer of ZAR6bn (US$850m) accepted by South African glass manufacturer Consol.
Other partners involved in the deal were Ethos Private Equity Fund, Sphere Private Equity Fund I, Sphere Investments and Sanlam Life Insurance.
The news comes just two weeks after the OTPP announced an agreement with Orient Overseas of Hong Kong to purchase four marine container terminals in North America for $2.4bn.
The US$84bn fund said the assets would be held within the pension plan’s infrastructure and timber portfolio, which totalled US$6.5bn after the acquisition.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers