Ontario Teachers’ to sell Bridon-Bekaert Ropes stake

Ontario Teachers’ Pension Plan has agreed to sell its 33 percent stake in Bridon-Bekaert Ropes Group (BBRG), a Belgian supplier of advanced cords and ropes to customers in oil and gas, mining, crane, elevator and other industries. No financial terms were released for the deal, which is expected to close in the months ahead. The buyer is Bekaert Group, which partnered with Ontario Teachers' in establishing the business two years ago. BBRG was the result of a merger of Bekaert's rope business with that of U.K.-based Bridon, acquired by Ontario Teachers’ in 2014.

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