Good evening,

Canadian pension fund OMERS just can’t seem to get enough of towers Down Under.

Fresh after hammering out a deal to buy TPG Telecom’s towers, the deep-pocketed Canadian investor has its eyes on telco tower developer and investor Stilmark.

Stilmark has 70-odd towers and OMERS has been in hot pursuit of such assets. Not very long ago, it was the underbidder at Optus and Axicom.

It will be interesting to see how the talks play out.

OMERS has shown itself to be as stealthy as a ninja (it signed the TPG deal while others were waiting for the auction to start) and it already has a history with Stilmark, but there’s plenty of hot money chasing towers.

Elsewhere, we’ve got our hands on the shortlist for WA building products business BGC Group, and listed non-bank lender MoneyMe has been stitching up a raising via Barrenjoey.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk Editors