April 11, 2018 / 3:47 PM / 8 months ago

Ontario Teachers' to buy 40 pct stake in European Camping Group

April 11 (Reuters) - The Ontario Teachers' Pension Plan will buy a 40 percent stake in European Camping Group (ECG) from U.S. buyout firm Carlyle Group LP and Montefiore Investment, the Canadian pension fund said here on Wednesday.

France-based ECG, which provides mobile homes to vacationers, raked in 230 million euros ($284.8 million) in revenue last year.

Ontario Teachers’, the third-largest Canadian public pension plan, did not disclose the financial terms of the deal.

Carlyle and Paris-based Montefiore will continue to have majority control over ECG. ($1 = 0.8076 euros) (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sai Sachin Ravikumar)

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