Dec 12 (Reuters) - Spark New Zealand ( NZTCF ) will sell

its remaining 17% stake in mobile towers firm Connexa for NZ$314

million ($181.77 million) to Canadian investment fund Caisse de

Depot et Placement du Quebec (CDPQ), the telecom company said on

Thursday.

Spark had announced in October its plans to divest its stake

in Connexa, at a time when media speculation had emerged the

Canadian pension fund, Ontario Teachers' Pension Plan (OTPP) is

looking to offload its shareholding in Connexa as well.

Spark added OTPP, as part of the agreement, will also sell

33% of its 83% shareholding to CDPQ, resulting in both parties,

CDPQ and OTPP, having a 50% co-controlling interest in Connexa

post-transaction.

The sale is expected to generate a gain of about NZ$70

million in reported EBITDAI for Spark upon completion, the

company said.

Under the terms of the deal, Spark will continue to be a key

customer of Connexa and will maintain control over the

development of its mobile network, it added.

($1 = 1.7274 New Zealand dollars)