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Teachers bets on the luck of the Irish

The Ontario Teachers’ Pension Plan is feeling lucky.

The $130-billion pension operator is part of a consortium that has been named the preferred bidder to operate Ireland’s national lottery based on its offer to pay €405-million ($567-million) to secure the 20-year contract – a price that easily topped offers from two other bidders, and far outstrips industry estimates that €250-million to €300-million would be raised in the privatization.