* Caisse vows to support Elior's global expansion plans
* Caisse has disclosed its stake is over 5 percent
March 2 (Reuters) - Canada's second-largest pension fund,
Caisse de depot et placement du Quebec CDPDA.UL , on Wednesday
purchased a minority stake in Elior ELIOR.PA and said it would
support the French catering group's growth plans.
Caisse executive Andreas Beroutsos said the acquisition was
in line with the fund's strategy of investing in businesses
resilient to economic cycles that generate attractive returns
over the long-term.
"We also intend to make our network and knowledge of the
North American market available to Elior Group to further its
global expansion," he said.
Elior provides food for schools, businesses and hospitals as
well as airports, train stations and highway service centres.
Caisse, Quebec's public pension fund manager, said it would
be represented on Elior's board of directors following the
transaction.
Caisse has disclosed that its stake in Elior will be more
than 5 percent but the precise level of its investment and size
of its stake was not disclosed. Elior is valued at $3.5 billion,
based upon its current share price.