Ontario Teachers', PSP to increase size of holdings in XPO Logistics

U.S. freight transportation services provider XPO Logistics Inc (NYSE: XPO) has agreed to receive additional equity totaling US$1.26 billion from its institutional backers. The Ontario Teachers' Pension Plan, Public Sector Pension Investment Board (PSP Investments) and Singapore sovereign wealth fund GIC, which invested US$700 million in XPO last September, intend to increase their holdings in the company. They will be joined in the new funding transaction by 12 other institutional investors. Net proceeds of the deal will help finance XPO's purchase of Norbert Dentressangle SA, a European transport, logistics, and freight business, as well as other acquisitions.

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