Caisse de dépôt to sell $1.69 bln stake in Québecor Media
Montréal-based telecommunications and media company Québecor Inc (TSX: QBR.A-B) has agreed to repurchase all of the share capital held in its media subsidiary by Caisse de dépôt et placement du Québec. The deal, which values the Caisse's 18.47 percent stake at $1.69 billion, completes a process begun in 2012. It gives Québecor 100 percent of the subsidiary. Caisse President and CEO Michael Sabia said the deal, expected to close in June, will allow the pension fund to re-allocate resources to new Québec investment opportunities. The Caisse will retain an interest in the business through Québecor's partial payment by way of convertible debentures.
8 May 2018•6 mins read
