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Ontario Teachers’ among final bidders for Australia’s NextGen

28 Jan 2013

NextGen fibre opticCanadian pension fund giant the Ontario Teachers’ Pension Plan is reportedly among the final bidders for Leighton Holdings’ Australian fibre-optic network NextGen amid waning private equity interest.

Australia’s TPG Telecom is also in the running according to Reuters, which said previous interest from buyout houses Providence Equity Partners and KKR had dropped according to sources familiar with the matter.

The business, which is owned by Spain’s ACS, could fetch as much as A$870m ($910m) according to analysts.

ACS is attempting to sell off the asset as well as smaller data businesses Metronode and Infoplex in order to pay down debt.

Bidders are currently working on a Feb. 9 deadline, two of the Reuters sources said.

Since the turn of the year OTTP has already agreed to buy all of the shares of container leasing company SeaCube for about $467m, and is said to be taking on  Clayton, Dubilier & Rice (CD&R) and PAI Partners to buy R&R Ice Cream.

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