Caisse de dépôt buys Stingray shares sold by Telesystem
Caisse de dépôt et placement du Québec has invested an additional $14.3 million in Stingray Digital Group Inc, a Canadian multi-platform music and in-store media solutions provider. The deal was in part a repurchase of shares sold by Telesystem Ltd. Telesystem, a long-time backer of Stingray, previously announced it generated about $30.8 million in proceeds from a secondary offering. Montréal-based Stingray raised nearly $180 million in an initial public offering last year. It continues be a portfolio company of Canadian private equity firm Novacap and other investors.
21 June 2016•3 mins read
