Ontario Teachers’ Pension Plan Sold Express-Platte Pipeline System Stake
According to the press release, “Ontario Teachers’ Pension Plan (Teachers’) today announced that it has completed the previously announced sale of its one-third interest in Express-Platte Pipeline System (Express-Platte Pipeline) to Spectra Energy Corp (Spectra Energy) for approximately $430 million.
Teachers’ partners in Express-Platte Pipeline, Borealis Infrastructure and Kinder Morgan Energy Partners, L.P., also sold their interests to Spectra Energy. Teachers’ acquired its interest in 2003 through its Infrastructure Group.
The Express-Platte Pipeline consists of two crude oil pipelines. The 1,717-mile (2,763-kilometre) integrated oil transportation network connects Canadian and U.S. producers to refineries in the Rocky Mountain and Midwest regions of the U.S.
Teachers’ Infrastructure Group manages an international portfolio of approximately $9 billion, including water and wastewater, electricity distribution, gas distribution, airports, power generation, high-speed rail and port facilities.”
Read more: Press Release
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