Ontario Teachers’ Pension Plan in talks to buy 49% stake in Mahindra Susten
The Ontario Teachers’ Pension Plan (OTPP) is in advanced talks to acquire a stake of about 49% in Mahindra Susten, the renewable energy unit of Mahindra and Mahindra NSE -1.55 %, said people aware of the development. OTPP, one of the largest pension funds in Canada, is likely to pay ₹2,300 crore for the stake, valuing the company at ₹4,600 crore, inclusive of debt, they said, adding that both sides have signed a deal exclusivity clause.
