Teachers’ wins 2008 Dealmakers award for SAESA transaction
Toronto - Ontario Teachers' Pension Plan (Teachers') received a 2008 Canadian Dealmakers award in recognition of its joint acquisition of Chilean electricity distribution, transmission and generation company SAESA Group.
The Canadian Dealmakers program honours Canadian companies and individuals for excellence in mergers and acquisitions in a variety of categories, based on factors that include value creation and deal complexity. Teachers' won the Utilities Award.
Stephen Dowd, Senior Vice-President of Infrastructure, accepted the award on behalf of the Teachers' infrastructure team at the second annual Canadian Dealmakers Gala in Toronto on February 18.
"It's wonderful to receive this recognition, which highlights the fact that we have very skilled people at Teachers' - and in our networks - who can do complex international transactions," Mr. Dowd said.
"We've built a solid track record and reputation for doing just that. This award is an acknowledgement of the valuable talents and capabilities we can harness to build a high-quality, long-term portfolio of infrastructure assets."
The US$1.29 billion joint acquisition of SAESA Group with Teachers' partner Morgan Stanley Infrastructure closed in July 2008.
SAESA, the main provider of electricity in the rapidly growing southern regions of Chile, was ideal for the Teachers' infrastructure portfolio for several reasons. It has diverse assets and stable cash flows that keep pace with inflation, it is located in a country that is open to foreign investment, and it operates within a fair and transparent regulatory system.
"This wasn't our first deal in Chile – in 2007, we acquired significant interests in three Chilean water utilities, for most of the same reasons," Mr. Dowd said.
These investments have helped the Teachers' infrastructure portfolio grow from zero in 2000 to approximately $9 billion at the end of 2007. (Teachers' will report 2008 results April 2.)
For a complete list of Canadian Dealmakers winners, please visit www.canadiandealmakers.ca
About the Canadian Dealmakers program
As the only program of its kind in Canada, Canadian Dealmakers recognizes participants whose M&A activities have made a significant contribution to Canadian business. The awards honour Canadian companies and individuals whose transactions have significantly impacted their industry through innovation and growth; establishment of best practices; enhancement of customer needs and products; and creation of value. The Canadian Dealmakers awards are jointly run by Deloitte, Lexpert®, The Globe and Mail and Thomson Reuters and draw on a panel of eminent judges.
About Ontario Teachers' Pension Plan
The Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 278,000 active and retired Ontario teachers.
Ontario Teachers' Pension Plan
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Ontario Teachers' Pension Plan