Bain and Caisse de dépôt take $300 mln from BRP secondary deal
The previously-announced sale by Bain Capital and the Caisse de dépôt et placement du Québec of holdings in Bombardier Recreational Products Inc (BRP, TSX: DOO) has been closed. The secondary offering saw Bain and the Caisse dispose of 10 million subordinate voting shares in the company, generating aggregate gross proceeds of $300 million. Upon the deal's completion, Bain held 26.9% of issued and outstanding shares in the business, and the Caisse held 5.1%. The Valcourt, Québec-based BRP, which develops, manufactures and distributes power-sports vehicles, was bought by Bain, the Caisse and members of the Bombardier family in 2003. The company completed an initial public offering in May 2013.
3 February 2014•4 mins read
