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Ontario Teachers’ Said to Plan Sale or IPO of Alliance Laundry

Ontario Teachers’ Pension Plan is exploring a sale or initial public offering of Alliance Laundry, a commercial laundry-equipment maker, people with knowledge of the matter said.

Canada’s third-largest pension plan expects to seek about $250 million in a U.S. IPO, and values the business at about $2 billion, one of the people said, asking not to be identified discussing private information. Ontario Teachers’ is working with banks including Morgan Stanley and Bank of America Corp. on the IPO, the people said.