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Pension fund buys Lottery operator

National Lottery operator Camelot last night announced its sale to a Canadian pension fund for around £389m.

The National Lottery Commission, Camelot's regulator, must approve the sale to the Ontario Teachers' Pension Plan before it can be finalised.

Camelot chief executive Dianne Thompson said: “We welcome Teachers' commitment to The National Lottery's ongoing success.”

In a statement last night, 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, known as Teachers'.

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