Alliance to sell 13.48 per cent stake in Interise to OMERS for Rs 19 billion

Alliance Capital Partners has entered a security purchase agreement for selling its entire 13.48 per cent stake in Interise Trust to the Ontario Municipal Employees Retirement System (OMERS), a Canadian pension fund, for Rs 19 billion. Following this transaction, OMERS’ stake in the trust will increase from 21.28 per cent to 34.8 per cent. Alliance Capital is also selling its entire 25 per cent stake in Interise Investment Managers to OMERS. As a result, OMERS’ affiliates will hold a 50 per cent stake in the InVITs investment manager.