OTPP Preferred Bidder for Busy Bees from Junk Bond King
The Ontario Teachers’ Pension Plan (OTPP) is in advanced discussions with Michael Milken (often referred to as the junk bond king) to acquire his and his brother’s stake in UK-based nursery operator Busy Bees.
The deal is valued at £220 million. The cross-border purchase would represent a burgeoning trend among Canadian institutional investors of bypassing Wall Street and private equity firms in favor of making direct investments on their own.
A couple of strong political and demographic indicators suggest the purchase will bode well for OTPP’s investment in the next few years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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