Ontario Teachers’ Pension Plan, Toronto, sold its majority ownership in Maple Leaf Sports and Entertainment, confirmed spokeswoman Deborah Allan.
The C$108 billion (US$105.6 billion) plan announced the sale of its 79.53% ownership interest to Bell Canada and Rogers Communications Inc. The purchase price for the plan’s interest is C$1.32 billion based on an overall enterprise value of just over $2 billion.
MLSE owns the NHL’s Toronto Maple Leafs; the NBA’s Toronto Raptors; Toronto FC, a Major League Soccer franchise, and Toronto Marlies, a minor league hockey club.
The transaction is expected to close in the middle of 2012.
The plan first invested in Maple Leafs Garden Ltd. by purchasing a 60% block of shares in 1994. The company transformed into MLSE following its acquisition of the Raptors and the Air Canada Centre in 1998.