Monday, June 4, 2007

Bell Canada's Privatization Talks Enter New Phase

BCE, the parent company of Bell Canada, announced that another group is entering into discussions to explore the possibility of taking the company private and that members of the group have signed non-disclosure and standstill agreements with BCE on a non-exclusive basis. The consortium includes Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan and Providence Equity Partners Inc.

  • In April 2007, BCE announced a series of discussions with a group of leading Canadian pension funds to explore the possibility of taking the publicly-traded company private. This group will be led by the Canada Pension Plan Investment Board (CPPIB), the Caisse de depot et placement du Quebec and Canada's Public Sector Pension Investment Board (PSP Investments), who have signed a non-disclosure and standstill agreement with BCE on a non-exclusive basis. Kohlberg Kravis Roberts and Co. (KKR), a leading global private equity firm, has also signed the agreement and will join the Canadian-led consortium as a minority partner.

  • BCE controls Bell Canada, Telesat Canada and an interest in Bell Globemedia.