12.05.2015 - GIC and CPPIB join deal for Hutchison UK units
Singapore’s sovereign wealth fund (SWF) GIC Private Limited (GIC) and the Canada Pension Plan Investment Board (CPPIB) led the way in a co-investment worth as much as £3.1 billion (US$4.8 billion) into the UK telecom business of Hutchison Whampoa, controlled by Hong Kong billionaire Li Ka-shing. GIC and CPPIB agreed to each contribute £1.1 billion to invest in an entity which will be created by merging the businesses of O2 UK and Three UK, two of the country’s major mobile service providers, owned by the Hong Kong-based conglomerate. The combined business will become the number one mobile operator in the UK with nearly 33 million customers, according to a statement by CPPIB. The Canadian pension fund will end up owning an approximate 12% stake in the entity...............................................Full Article: Source
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