Media Contacts
Dan Madge
Ontario Teachers'
Phone: +1 416 730 6451
Email: media@otpp.com
Europe, Middle East and Africa
Oliver Mann
Kekst CNC
Phone: +44 203 7551 607
Email: otpp@kekstcnc.com
Asia-Pacific
Daniel Del Re
Kekst CNC
Phone: +852 9212 3105
Email: OTPP_Asia@kekstcnc.com
June 18, 2010
The Ontario Securities Commission (OSC) today said it would allow a group of six Canadian shareholders to make submissions for the hearing into the proposed transaction to eliminate Magna International's multiple-voting shares.
The shareholder group includes the Ontario Teachers' Pension Plan, Canada Pension Plan Investment Board, OMERS Administration Corporation, Alberta Investment Management Corporation, British Columbia Investment Management Corporation and Letko Brosseau & Associates.
Teachers' is glad to have the opportunity to participate in the hearing alongside other Canadian investors. As major participants in capital markets, we are concerned with the abusive nature of the proposed transaction, its potential impact on the future integrity of the Canadian capital markets if allowed to proceed and the precedent it would establish for similar transactions.
The OSC hearing is scheduled for June 23 and 24.
Contact:
Deborah Allan
Director, Communications and Media Relations
Ontario Teachers' Pension Plan
(416) 730-5347
deborah_allan@otpp.com