TORONTO (January 15, 2019)
IMCO Increases Investment in CLH Group
The Investment Management Corporation of Ontario (IMCO) recently concluded the acquisition of a five percent stake in Spanish oil logistics operator, CLH Group. The transaction was conducted alongside another large European institutional investor and was a follow-on to an existing investment, raising IMCO’s holding to 10 percent of the company.
“This acquisition allows us to access a core infrastructure asset that is providing essential services to the Spanish oil logistics market,” said Jean Michel, Chief Investment Officer, IMCO. “It will provide our clients with an attractive risk-adjusted return and underscores our capability to access to high-quality investment opportunities.”
CLH is the largest refined oil logistics operator in Spain with a broad network of transportation and storage assets that span the country. CLH owns and operates over 4,000 km of pipeline and maintains storage facilities across Spain. The company also has growing international operations, having expanded into the United Kingdom, Oman and Ireland in recent years.
The Investment Management Corporation of Ontario (IMCO) manages $61.6 billion of assets on behalf of its clients. IMCO’s mandate is to provide broader public-sector institutions with investment management services, including portfolio construction advice, better access to a diverse range of asset classes and sophisticated risk management capabilities. IMCO is an independent organization, operating at arm’s length from government and guided by a highly experienced and professional Board of Directors. For more information, visit www.imcoinvest.com and follow us on Twitter @IMCOinvest.
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Vice President, Corporate Communication