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OMERS to invest US$400M for indirect 5% stake in MLSE

Date Closed

November 6, 2023

Lead Office

Toronto

Value

400.00 Million USD

On November 6, 2023, OMERS acquired a 5% indirect stake in Maple Leaf Sports & Entertainment ("MLSE") for US$400 million through a 20% direct stake in Kilmer Sports Inc. ("KSI"), owned by MLSE Chair Larry Tanenbaum.  KSI currently owns 25% of MLSE.  Upon closing, Mr. Tanenbaum will retain an 80% stake in KSI and KSI maintains its 25% stake in MLSE. Mr. Tanenbaum will remain Chair of MLSE, Governor and member of the Executive Committee of the National Hockey League and Major League Soccer, and Chairman of the Board of the National Basketball Association. OMERS will be a financial investor and will not participate in operational decisions of MLSE or any of its teams.

OMERS is a Canadian public pension fund headquartered in Toronto, Ontario with offices worldwide including New York, Amsterdam, Luxembourg, Singapore and Sydney, to name a few.

McCarthy Tétrault advised OMERS with a team led by David Lever that included Matthew Cumming, Jake Irwin, Suzie Cusson, Mitchell Lui (Business Law), Stefanie Morand, Scott Bell and Adam Unick (Tax).

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