OMERS

Sale of Kenan Advantage reportedly eyed by pension fund

A truck of Kanan Advantage Group (KAG) travels on a road. The owner is reportedly considering selling KAG.

The private equity arm of the Canadian pension fund OMERS is considering selling Kenan Advantage Group in a deal that could bring in $2.5 billion or more for the tank truck carrier, Bloomberg reported Tuesday, citing anonymous sources. 

OMERS Private Equity, which acquired Kenan in 2015, declined to comment on the report. But Kenan could attract significant interest from private equity firms and large transportation and logistics companies.  

Ohio-based Kenan (KAG) is North America’s largest tank...

https://s29755.pcdn.co/news/sale-of-kenan-advantage-reportedly-eyed-by-pension-fund

CP to own Detroit River Rail Tunnel in $312M deal

A Canadian Pacific Railway (CP) engine moves on a track. The railway will own the Detroit River Rail Tunnel

Canadian Pacific Railway (NYSE: CP) has inked a $312 million deal to acquire full ownership of the cross-border Detroit River Rail Tunnel from an Ontario pension fund affiliate, the company announced on Friday.

CP has an existing 16.5% stake in the tunnel and will acquire the remaining interest from OMERS Infrastructure, an affiliate of the Ontario Municipal Employees Retirement System pension fund. The railway expects to reduce its costs to use the cross-border U.S.-Canada railway link. 

“This...

https://s29755.pcdn.co/news/cp-to-own-detroit-river-rail-tunnel-in-312m-deal