Ontario Teachers to acquire majority stake in three Australian telcos

TORONTO – Ontario Teachers’ Pension Plan has announced an agreement to acquire 70% of three Australian telecommunications companies from Leighton Holdings Limited. The acquisition of Nextgen Networks, Metronode and Infoplex values 100% of these businesses at A$885 million, subject to certain adjustments. Leighton, based in Sydney, will retain a 30% interest in the companies. The transaction is subject to various approvals, including the Australian Foreign Investment Review Board, and is expected to close in mid-2013. Nextgen manages high-speed, carrier-grade fibre network services; Metronode provides data centre and related value-added services; and Infoplex provides cloud and ICT services. These businesses will...