Ontario Teachers’ Pension Plan Board, one of Canada’s largest public-sector pension managers, is nearing a deal to buy a stake in specialty packaging company GPA Global from buyout firm EQT AB, according to people familiar with the matter.
The Canadian fund and Asian private equity firm FountainVest Partners were among shortlisted bidders vying for the stake, Bloomberg News reported last month. The deal could value the packaging business at about $700 million to $800 million, people familiar with the matter have said.
OTPP, which has set a target of $300 billion in net assets by 2030, has made similar acquisitions in the past. It bought a stake in packaging firm Logoplaste from Carlyle Group Inc. last year for an undisclosed amount.
