Caisse de dépôt to sell portion of CGI holdings for nearly $400 mln

Canadian pension fund manager the Caisse de dépôt et placement du Québec has announced it will reduce its holdings in CGI Group Inc, a Montréal-based IT and business process services company. A total of 9.96 million shares will be sold at a price of $40.15 per share, generating close to $400 million in proceeds. Upon completion of the transaction, the Caisse will hold approximately 18.7% of the company's outstanding shares. In 2012, the Caisse made a $1 billion private equity investment in CGI to support the acquisition of British IT and management consultancy company Logica PLC.

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