Ontario Teachers' fund and AIG buy InterGen

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CANADA - The CAN$85bn Ontario Teachers' Pension Plan (OTPP) has partnered with a private equity fund to buy power company InterGen NV and 10 of its power plants for CAN$2.2bn as part of plans to expand its infrastructure portfolio.

The joint venture between OTPP and AIG Highstar Capital will see them purchase the Intergen power plants from Shell Generating and Bechtel Enterprises Energy. Jim Leech, senior vice president at...

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