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UPDATE 1-Ontario Teachers'-owned BayBridge to buy senior homes operator Amica

Published 2015-09-02, 11:41 a/m
© Reuters.  UPDATE 1-Ontario Teachers'-owned BayBridge to buy senior homes operator Amica

(Adds details, shares)
Sept 2 (Reuters) - BayBridge Seniors Housing Inc, owned by
Ontario Teachers' Pension Plan Board, is taking luxury senior
homes operator Amica Mature Lifestyles Inc ACC.TO private for
C$578 million.
Amica's shares more than doubled to a record high of C$18.70
in late morning trading on Wednesday, just shy of the offer
price of C$18.75 per share in cash.
Vancouver-based Amica has 26 luxury seniors residential
properties across Ontario, British Columbia and Alberta.

BayBridge Seniors Housing, along with its management company
BayBridge Senior Living, owns and operates 35 senior living
communities in Canada and six in the United States.
Ontario Teachers', which has been looking to diversify its
investments, agreed in June to buy Cenovus Energy Inc's CVE.TO
portfolio of oil and gas royalty properties for about C$3.3
billion.
Canaccord Genuity Corp is Amica's financial adviser, while
Gowling Lafleur Henderson LLP is its legal counsel.
CIBC World Markets Inc is BayBridge's financial adviser and
Stikeman Elliott LLP is its legal adviser.

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