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SOURCE Ontario Teachers' Pension Plan
TORONTO, March 14, 2013 /PRNewswire/ - Ontario Teachers' Pension Plan
(Teachers') today announced that it has completed the previously
announced sale of its one-third interest in Express-Platte Pipeline
System (Express-Platte Pipeline) to Spectra Energy Corp (Spectra
Energy) for approximately $430 million.
Teachers' partners in Express-Platte Pipeline, Borealis Infrastructure
and Kinder Morgan Energy Partners, L.P., also sold their interests to
Spectra Energy. Teachers' acquired its interest in 2003 through its
Infrastructure Group.
The Express-Platte Pipeline consists of two crude oil pipelines. The
1,717-mile (2,763-kilometre) integrated oil transportation network
connects Canadian and U.S. producers to refineries in the Rocky
Mountain and Midwest regions of the U.S.
Teachers' Infrastructure Group manages an international portfolio of
approximately $9 billion, including water and wastewater, electricity
distribution, gas distribution, airports, power generation, high-speed
rail and port facilities.
About Teachers'
With $117.1 billion in assets as of December 31, 2011, the Ontario
Teachers' Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund's
assets and administers the pensions of 300,000 active and retired
teachers in Ontario. For more information visit www.otpp.com
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