Ontario Teachers’ Pension Fund acquires 30 per cent stake in Mahindra Susten

The Ontario Teachers’ Pension Plan will acquire a 30 per cent equity stake in Mahindra Susten for an equity value of Rs 23.71 billion ($300 million). The transaction involves the setting up of an InvIT in complia­n­ce with the ap­plicable regulations of the Securities and Exchange Board of India (SEBI). Mahindra Susten’s business includes an independent power producer (IPP) entity with approximately 1.54 GW of operational solar plants, which will be transferred to the InvIT. British Columbia Investments (BCI) and APG Asset Management are among the other global investors looking to acquire a stake in the InvIT. The Mahindra Group and Ontario Teachers will jointly explore the sale of an additional 9.99 per cent stake in Mahindra Susten.