CPPIB to acquire a 30% stake in BGL Group for £675m.

Canada Pension Plan Investment Board agreed to acquire a 30% stake in BGL Group, a financial services company based in Orton Southgate, Peterborough, England, for £675m. "We are delighted to welcome CPPIB as an investor. During the course of our IPO preparations, our shareholder BHL received a number of approaches from different kinds of investors, as BGL represents a unique growth opportunity in UK financial services. A competitive process followed and our view was that CPPIB was the best partner for BGL. It is a hugely respected and experienced global institution, with a long-term ethos and track record of supporting growth. Building BGL Group and its brands into some of the most well known in the UK and France has created significant value for our stakeholders, and this investment reflects confidence in our continued success," Peter Winslow, BGL Group Chairman.