Teachers' fund to vote against Magna's Russia plan

Newswire

TORONTO, Aug 27 (Reuters) - Ontario Teachers' Pension Plan will vote against a restructuring plan by Magna International which the pension fund says doesn't consider Class A shareholders. Ontario Teachers said the proposed transaction to sell a chunk of Magna, one of North America's biggest auto-parts makers, is a "de facto" change of ownership. Magna shareholders will vote on Tuesday on a $1.54 billion investment by Russian tycoon Oleg Deripaska, which the board of Magna approved in ...

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