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Ontario Teachers acquires SeaCube Container Leasing

A contianer ship prepares to pass underneath the Lions Gate Bridge on its way from Vancouver to China.

Rafal Gerszak/The Globe and Mail

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.

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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.

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