CPPIB invests $325 mln in Vestar's 21st Century Oncology Holdings

Canada Pension Plan Investment Board (CPPIB) has invested US$325 million in 21st Century Oncology Holdings Inc, a U.S.-based operator of a global network of cancer treatment centres and affiliated physician practices. The deal, which will be done through a series of convertible preferred shares, entitles CPPIB to nominate two directors to the company's board of directors. 21st Century Oncology, a majority-owned portfolio company of U.S. private equity firm Vestar Capital Partners since 2008, said the new investment will result in substantial de-leveraging, stronger liquidity and significant capital for continued business expansion.

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