Ontario Teachers' said to weigh $5 billion sale of Amica Senior
BNN Bloomberg
Ontario Teachers’ Pension Plan is exploring a sale of luxury senior-living residences Amica Senior Lifestyles, which could be valued at about $5 billion (US$3.6 billion), according to people familiar with the matter.
Ontario Teachers’ is working with advisers on a potential sale of the Toronto-based company, which has drawn interest from multiple parties, said the people, who asked to not be identified because the details are private. No final decision has been made and Ontario Teachers’ could opt to to hold onto the business, the people added.
A representative for the pension fund declined to comment. A representative for Amica didn’t immediately respond to a request for comment.
Ontario Teachers’ took Amica private in 2015 via a takeover by its subsidiary BayBridge Seniors Housing Inc., according to a statement at the time. Today, the company has more than 30 senior-living locations in British Columbia and Ontario, according to its website.
