Nikkei: Japan, Canada Investors to Acquire US Power Plant

By IVCPOST Staff Reporter

Jul 01, 2013 11:20 PM EDT

On Tuesday, the Nikkei business daily reported a deal priced for Y200 billion. The said deal was between a consortium including Mitsubishi Corp and Japanese and Canadian pension funds to acquire a gas-fired power plant in the US. The gas-fired power plant is located in Michigan and the deal will take place this month. The Japanese pension fund is ranked the biggest holder of funds in the world.

The consortium consisted of Mitsubishi Corp, Mizuho Bank and The Japan Bank for International Cooperation. Japan's Pension Fund Association and Canadian pension fund, Ontario Municipal Employees Retirement System, (OMERS) are also included in the list of acquirers. The deal stated purchase of all shares in the parent company of the 1.63-gigawatt power plant. This was stated in the report of the business daily paper without citing any source.

The gas-fired power plant in Michigan included a Swedish investment fund as its owner.

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