Caisse acquires Cascades' stake in Boralex for $287.5 mln
Caisse de dépôt et placement du Québec has acquired all of the Class A common shares of Boralex Inc (TSX: BLX) held by Cascades Inc for $287.5 million. The purchase represents 17.3 percent of the outstanding shares of Boralex, a Kingsey Falls, Québec-based developer, builder and operator of wind and other renewable energy power facilities. It entitles the Canadian pension fund to appoint two board members and have pre-emptive rights concerning future share issuances. As part of the deal, Boralex and the Caisse agreed to explore project investment opportunities. Founded in 1995, Boralex is led by President and CEO Patrick Lemaire.
27 July 2017•3 mins read
