TORONTO — Bell and Rogers Communications Inc. have announced plans to buy The Ontario Teachers’ Pension Plan’s (OTPP) 79.53-per-cent majority share in Maple Leaf Sports and Entertainment (MLSE) for $1.32-billion.
MLSE is the parent company of the Toronto Maple Leafs and Toronto Raptors. Aside from owning the Toronto Maple Leafs, Raptors, Toronto Marlies and Toronto FC , the company has a 37.5-per-cent ownership of Maple Leaf Square as well as the fine-dining restaurant E11even and Real Sports Bar & Grill.
“We believe this agreement is great news for all parties involved,” said Jane Rowe, a senior vice-president with the OTPP as quoted by CTV News.
The transactions are expected to close in mid-2012 following league approval.
MLSE was recently honoured as Regional Company of the Year at the 23rd Annual Pinnacle Awards.