Canadian pension fund takes 5.6% stake in Inghams

Canadian pension fund PSP Investments has taken a 5.6% stake in ASX-listed Inghams.

The poultry producer confirmed it has not received any takeover offer from the Canadian asset manager. Earlier in August, media reports suggested PSP Investments has hired Barrenjoey Capital Partners to sort a bid to acquire Inghams.

"Inghams notes prior media speculation in relation to PSP Investments potentially approaching the company with a change of control transaction. PSP Investments' substantial shareholder notice has advised that PSP Investments does not intend to initiate a control transaction in relation to Inghams," Inghams said.

"Inghams reconfirms it has not received any offer or approach from PSP Investments or any other party in relation to a potential control transaction."

PSP Investments confirmed it intends to be a "constructive and supportive" shareholder and does not intend to initiate control of the firm.

Inghams is one of the largest producers of chicken and turkey products in Australia.

"We look forward to engaging constructively with PSP as a new shareholder and as a global investor with domestic and international food and agricultural experience," Inghams said.

PSP Investments is part of a group of Canadian pension funds who have signed a memorandum of understanding with Australia's industry super funds to boost investment in their respective regions.

PSP Investments said there is fertile ground to bolster opportunities for investment between the two nations.

"I'm proud of the strong relationships our team has built in Australia and excited about the role we can continue to play through this initiative," PSP Investments president and chief executive Deborah Orida said.

"For more than a decade, Australia has been an important market for us. This Memorandum of Understanding strengthens cooperation among like-minded long-term investors and helps create the conditions for durable value and essential infrastructure that supports people and communities."