Camelot bought out by Canadian pension fund

CAMELOT, more famously know as the National Lottery operator, has been sold to Ontario Teachers’ Pension Plan for £389m.

The Canadian pension fund beat a rival offer from private equity firm CVC Capital Partners.
Camelot said it had been informed by its shareholders – Cadbury Holdings, De La Rue Holdings, Fujitsu Services, Royal Mail Enterprises and Thales Electronics – that they have agreed to sell their shareholdings in the firm to Ontario Teachers’ Pension Plan.

Camelot chief executive Dianne Thompson said: “We welcome Teachers’ commitment to The National Lottery’s ongoing success, and look forward to the opportunity of working with them.”