Ontario Teachers’ Pension Plan said Wednesday it has closed the purchase of SeaCube Container Leasing Ltd. in a deal valued at $1.8-billion (U.S.), including assumed debt.
SeaCube managers and leases containers used for shipping around the world.
Teachers paid $23 per share in cash for the company.
The pension fund manager said it plans to operate SeaCube as a stand-alone business operation with the current management team remaining in place.
Teachers invests the pension fund assets and administers the pensions of 303,000 active and retired teachers in Ontario.