Here’s our look at the big stories this morning on the business beat:
Caisse sees opportunity in India: The Caisse de dépôt et placement du Québec (CDPQ) is adding to its portfolio of logistics investments with a US$155-million purchase of a “sizeable minority stake” in TVS Logistics Services Ltd., an India-based multinational third-party logistics service provider. The provincial pension fund is buying most of a holding previously held by Goldman Sachs and KKR. The Caisse said it’s also ready to commit significant additional capital to finance transformative acquisitions and support the expansion of TVS LSL in India and globally. “TVS Logistics is well positioned to seize growth opportunities resulting from recent tax reforms in India and global demand for state-of-the-art logistics services. CDPQ’s strategy is to identify world-class management teams and to support them over the long term. This is precisely what we intend to do with TVS Logistics as it expands in its home market and abroad,” Caisse chief executive Michael Sabia said. TVS LSL is one of the largest Indian employers in Northern England with more than 3,500 employees in the UK and in Europe. In the USA, it operates through seven facilities with over 800 employees.