{"id":81747,"date":"2023-11-07T14:15:31","date_gmt":"2023-11-07T19:15:31","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/canadas-omers-buys-5-indirect-stake-in-toronto-raptors-parent-mlse-for-400-million\/"},"modified":"2023-11-07T14:15:34","modified_gmt":"2023-11-07T19:15:34","slug":"canadas-omers-buys-5-indirect-stake-in-toronto-raptors-parent-mlse-for-400-million","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=81747","title":{"rendered":"Canada’s OMERS buys 5% indirect stake in Toronto Raptors-parent MLSE for $400 million"},"content":{"rendered":"
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\u00a9 Reuters. Chairman of Maple Leaf Sports & Entertainment (MLSE) Larry Tanenbaum speaks at a news conference announcing the sale of MLSE in Toronto December 9, 2011. REUTERS\/Mark Blinch\/File Photo <\/span>
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(Reuters) – Canadian pension plan OMERS said on Monday it will acquire a 5% indirect stake in Maple Leaf Sports & Entertainment (MLSE), the parent company of hockey’s Toronto Maple Leafs and basketball’s Toronto Raptors, for $400 million. <\/p>\n

The investment comes through a 20% direct stake in Kilmer Sports Inc (KSI) owned by MLSE Chair Larry Tanenbaum.<\/p>\n

MLSE, formed in 1998, is the parent company of several sports teams and has also invested in and operates five sports facilities in Toronto. <\/p>\n

After the deal closes, Tanenbaum will remain MLSE’s chair and retain an 80% stake in KSI, while OMERS will be a financial investor and will not participate in operational decisions of MLSE or any of its teams.<\/p>\n

Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with C$127.4 billion ($93.03 billion) in net assets as at June 30.<\/p>\n

($1 = 1.3694 Canadian dollars) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Chairman of Maple Leaf Sports & Entertainment (MLSE) Larry Tanenbaum speaks at a news conference announcing the sale of MLSE in Toronto December 9, 2011. REUTERS\/Mark Blinch\/File Photo (Reuters) – Canadian pension plan OMERS said on Monday it will acquire a 5% indirect stake in Maple Leaf Sports & Entertainment (MLSE), the parent […]<\/p>\n","protected":false},"author":1,"featured_media":2658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-81747","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCanada's OMERS buys 5% indirect stake in Toronto Raptors-parent MLSE for $400 million | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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