Canadian pension funds to increase stakes in Mexico’s IDEAL
The controlling shareholders of Mexican construction company IDEAL (IDEALB1.MX), part of the business empire of tycoon Carlos Slim, signed an agreement for two Canadian pension funds to increase their shareholdings in the firm, IDEAL said on Tuesday.
The accord, which is still pending corporate and government approval, would see Ontario Teachers’ Pension Plan Board and Canada Pension Plan Investment Board up their holdings by 8.4% and 1.1% respectively, bringing each of their total holdings to 24.8%, IDEAL said in a statement to the Mexican stock exchange.
IDEAL shares have not registered movements on Mexico’s stock market since Oct. 15, according to data from Refinitiv Eikon.
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