CANADA - Ontario Teachers' Pension Plan has decided to sell its 25% stake of CTVglobemedia to BCE (Bell), the parent company of Bell Canada and Bell Aliant.
The pension plan's private equity unit, Teachers' Private Capital, plans to use the funds generated from the sale to further investment opportunities in their telecom, media and technology portfolio.
"Bell's purchase provides a timely and efficient exit from our investment in CTVglobemedia. We continue to view telecom, media and technology as important and exciting sectors that we are well positioned to invest in going forward," Neil Petroff, OTPP executive vice president and chief investment officer, said in the OTPP news release.
BCE currently owns 15% equity in CTV and will acquire the remaining 60% stake from Woodbridge Company Limited and Torstar Corporation. BCE expects to close the deal by mid-2011 subject to regulatory approvals.
Potential changes to accounting standards and increased pressure on companies to accelerate contributions could worsen FTSE 100 scheme funding by up to £100bn, according to Lane Clark and Peacock (LCP).
Smart Pension has taken on over 20,000 active members from the £20m Corpad Master Trust, following a strategic review by the ceding firm's trustees.
The Universities Superannuation Scheme (USS) allegedly obstructed a whistleblower as she tried to discover the true value of the deficit in its defined benefit (DB) section, according to reports.
The Cost Transparency Initiative (CTI) has launched a number of templates and guidance to help pension schemes deliver greater value for savers with enhanced disclosure of transaction cost information.