CPPIB bags second dollar store chain
Date: October 14, 2011
For the second time in four years, the Canada Pension Plan Investment Board is putting its multibillion-dollar balance sheet behind a retail chain that sells goods for about a buck.
Investing alongside U.S. private-equity firm Ares Management LLC, CPPIB has signed a friendly agreement to buy a majority stake in 99 Cents Only Stores (NDN-N 21.59—-%) for $1.6-billion (U.S.), or $22 a share.
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Source: Globe and Mail
