IFM Investors and the Ontario Teachers' Pension Plan Board have entered into an agreement with Brookfield Infrastructure to pay C$2.8 billion ($2.2 billion) for 100 percent of the shares of the Canadian district energy operations owned by Enwave Energy Corp.
Brookfield will carry out the divestment in two transactions for a total consideration of $4.1 billion on an enterprise value basis. The other transaction involves the sale of Enwave's U.S. business to Australia’s QIC and consortium partner Ullico.
Enwave provides sustainable district cooling and heating solutions to more than 320 customers across a range of sectors in Canada. Following the transaction, IFM Investors and Ontario Teachers’ will each own 50 percent of the company.
This is the second infrastructure investment IFM Investors and Ontario Teachers’ have made together in North America. The joi
