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OTPP Plans Maple Leafs Stake Sale
Ontario Teachers’ Pension Plan is planning to sell its majority stake in Maple Leafs Sports and Entertainment.
Ontario Teachers’ Pension Plan (OTPP) is planning to sell its majority stake in Maple Leafs Sports and Entertainment, The Wall Street Journal reports. Last year, it was reported that OTPP is looking to sell its 66% stake in Maple to Canada’s Rogers Communications for $1.33 billion.
In 1994, Teachers bought an initial stake of 49% in Maple and increased its ownership to 66% by 2009. Toronto-based entrepreneur, Larry Tanenbaum,owns 20.5% of Maple, while TD Capital, a division of Toronto-Dominion Bank, holds 13.5%.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Toronto Sun.