OTPP takes stake in Railpower

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CANADA - The CAN$108bn (US$106bn) Ontario Teachers' Pension Plan (OTPP) has subscribed for an additional convertible debenture in Railpower Technology Group worth $20m.

The deal, which will be formally completed in June, would give the OTPP a 65.06% stake in the entire company, and represents 186.2% of issued and outstanding common shares. OTPP said the purcha...

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