{"id":19900,"date":"2020-10-19T09:00:44","date_gmt":"2020-10-19T13:00:44","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/omers-selling-stake-in-detroit-rail-tunnel-151256"},"modified":"2020-10-19T09:00:44","modified_gmt":"2020-10-19T13:00:44","slug":"omers-selling-stake-in-detroit-rail-tunnel","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/10\/19\/omers-selling-stake-in-detroit-rail-tunnel\/","title":{"rendered":"OMERS selling stake in Detroit rail tunnel"},"content":{"rendered":"<div class=\"alignleft clearfix\">\n<div class=\"wp-caption feature-image alignleft\"> <img decoding=\"async\" loading=\"lazy\" width=\"300\" height=\"190\" src=\"https:\/\/www.benefitscanada.com\/wp-content\/uploads\/2012\/03\/train-tracks.jpg\" class=\"attachment-feature size-feature wp-post-image\" alt title=\"OMERS selling stake in Detroit rail tunnel\"> <\/div>\n<\/p><\/div>\n<p class=\"byline\"> <span>Staff<\/span>&nbsp;|&nbsp;October 19, 2020 <\/p>\n<p>The Ontario Municipal Employees Retirement System\u2019s infrastructure arm is selling its interest in the Detroit River tunnel partnership to Canadian Pacific.<\/p>\n<p>The sale, which will give CP full ownership of the rail tunnel, is expected to generate approximately US$312 million for the OMERS.<\/p>\n<p>\u201cWe are very proud of the value we have created with this investment for OMERS members,\u201d said Michael Ryder, senior managing director and head of Americas for OMERS Infrastructure, in a press release.<\/p>\n<p><strong>Read: <a href=\"https:\/\/www.benefitscanada.com\/news\/omers-investing-in-australian-electricity-company-cppib-in-north-america-food-company-148167\">OMERS investing in Australian electricity firm, CPPIB in North American food company<\/a><\/strong><\/p>\n<p>\u201cOur work with CP represents a strong example of our global investment approach in action \u2013 collaborating with a trusted strategic partner as long-term owners and developers of a major international transportation link.\u201d<\/p>\n<p>The OMERS first invested in the partnership in 2001.<\/p>\n<p>\u201cIt has been a pleasure to work with the CP team to ensure safe, reliable operations of this important infrastructure asset for commercial users and regional stakeholders,\u201d said Peter Gray, director of OMERS Infrastructure. \u201cWe sincerely thank CP for its partnership and we wish them continued success.\u201d<\/p>\n<p><strong>Read: <a href=\"https:\/\/www.benefitscanada.com\/news\/omers-posts-11-9-return-for-2019-led-by-public-equities-142953\">OMERS posts 11.9% return for 2019 led by public equities<\/a><\/strong><\/p>\n<p> <a href=\"https:\/\/www.benefitscanada.com\/news\/omers-selling-stake-in-detroit-rail-tunnel-151256\">Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Staff&nbsp;|&nbsp;October 19, 2020 The Ontario Municipal Employees Retirement System\u2019s infrastructure arm is selling its interest in the Detroit River tunnel partnership to Canadian Pacific. The sale, which will give CP full ownership of the&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19900"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19900"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19900\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}