OTPP to Buy Three Australian Telecom Companies

The Ontario Teachers’ Pension Plan (OTPP) reached an agreement to acquire 70% of three Australian telecommunications companies from Leighton Holdings Limited. Sydney-based Leighton Holdings Limited will retain a 30% interest in the companies. The companies to be acquired are Nextgen Networks, Metronode and Infoplex. A 100% valuation of all three companies put the total value at 885 million AUD. The deal is expected to close by mid-2013 and is subject to the Australian Foreign Investment Review Board.

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