OMERS takes majority stake in tunnel

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CANADA - The CAN$43bn (US$34.5bn) Ontario Municipal Employees' Retirement System (OMERS) has taken a majority stake in the Detroit River Tunnel in a renegotiation of terms with its partner Canadian Pacific Railway (CP).

The deal - conducted through OMERS' specialist investment subsidiary, Borealis Infrastructure Management - will see CP's stake in the tunnel reduced from 50% to 16.5% and OMERS taking the majority ...

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