March 31, 2015

Congratulations, you now own part of Britain, here's why...

Brian LilleyRebel Co-Founder
 

A major investment by the Canada Pension Plan Investment Board means most Canadians now own a little slice of Britain.

The CPPIB joined with investment firm Hermes to gain a one-third ownership of Associated British Ports, the biggest port operator in Britain. The Daily Telegraph reports the deal is worth 1.6 billion British pounds or $3 billion Canadian dollars.

The investment board manages $233 billion in retirement savings, investing it in businesses around the world in order to support the Canada Pension Plan. The Telegraph reports Canada's pension plan was not the only government backed body looking to scoop up British Ports.

Hermes and CPPIB saw off competition from Malaysia’s sovereign wealth fund, Dutch pensions investor APG and Korea’s national pension service. A third consortim featuring Abu Dhabi Investment Authority and 3i Infrastructure were also vying to take control of the ports in an auction process that began last year.
It is understood that Hermes and CPP entered exclusive negotiations last Thursday and worked on the finer points of the deal over the weekend.

The deal means Canadians pensioners and pension plan contributors now own 21 ports throughout Britain including the port of Southampton, famous as a destination for cruise ships.

Comments
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commented 2015-03-31 23:28:36 -0400
Heck, ports could be a good investment. A certain amount of stable foreign investment is a good thing in a portfolio. CPP has to invest aggressively and safely( an oxymoron I know) , for our kids to have a chance of getting any of what they are putting in. Don’t know too much about it, but not necessarily a bad thing.
commented 2015-03-31 18:55:08 -0400
Who is on the board? I’d like to know who is managing my retirement money please. If there are any Liberals, I’d like them fired as well. Just my personal opinion. :)
commented 2015-03-31 17:31:34 -0400
Can I cash my part out before the Muslim take over
commented 2015-03-31 14:58:53 -0400
Does that mean that I can go over to Briton and kick anyone out of MY ports that I don’t like? Neat!
commented 2015-03-31 13:21:15 -0400
well so much for being able to retrieve my retirement 40 years from now!
commented 2015-03-31 11:49:22 -0400
Better part owned by a member of the Anglosphere with shared culture and values than a country enslaved to a Totalitarian Theocracy