Teachers’ streamlines MLSE process with proposed acquisition of TD Capital Group shares in MLSE
TORONTO - The Ontario Teachers' Pension Plan (Teachers') today stated that it is in advanced discussions with TD Capital Group and has reached an understanding on the principal financial terms regarding the acquisition of TD Capital Group's 13.46% minority share of Maple Leaf Sports and Entertainment (MLSE). Subject to the requirements of the MLSE shareholders' agreement, Teachers' interest in MLSE could increase to between 76.35% and 79.53%. The transaction would be subject to, among other things, league and regulatory requirements.
As previously stated, Teachers' is currently working with its advisors to explore strategic alternatives regarding its ownership of MLSE. The consolidated stake in MLSE is expected to streamline the process.
With $107.5 billion in assets as of December 31, 2010, 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 295,000 active and retired teachers in Ontario. For more information visit www.otpp.com
Director, Communications and Media Relations
Ontario Teachers' Pension Plan