The C$107.5 billion ($112.5 billion) Ontario Teachers’ Pension Plan (OTPP) has increased its stakes in two Chilean water utilities, Essbio S.A. and Esval S.A., after making successful bids in recent government-held auctions. OTPP increased its ownership in Essbio S.A. from 51.1 percent to 89.6 percent and its interest in Esval S.A. from 69.8 percent to 94.2 percent.
The successful bid for the additional shares was approximately C$541 million ($566 million).
“We are pleased to be increasing our ownership of Essbio and Esval and look forward to supporting the future development of both companies,” says Stephen Dowd, senior vice president with OTPP’s infrastructure group. “Chile continues to be an excellent place to invest. As long-term investors, we are attracted by the ability of these two companies to generate predictable returns over many years to help meet the plan