Ontario Teachers plan to buy Acorn Education: report

Mon Jan 18, 2010 8:54am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO (Reuters) - The Ontario Teachers' Pension Plan is close to acquiring fast-growing British education company Acorn Education and Care Ltd, which provides facilities for children with special needs, according to a report in the Globe and Mail on Monday.

Ontario Teachers' would acquire Acorn from Phoenix Equity Partners, a London-based private equity group, said the article, citing advisers working with the Ontario pension fund.

A deal could be announced as early as this week, according to the report.

The Ontario Teachers' Pension Plan, which has over C$87 billion in net assets, invests and administers the pensions of 284,000 active and retired teachers in Ontario.

Officials at Ontario Teachers', Acorn and Phoenix were not immediately available for comment.

(Reporting by Euan Rocha; Editing by James Dalgleish)