CDPQ-controlled Noverco to privatize Énergir in $1.2 bln deal
Noverco Inc, owner of 71 percent of Énergir LP, a Montréal-based energy company, has agreed to acquire the issued and outstanding shares of Valener (TSX: VNR), Énergir's public affiliate. The deal implies an enterprise value for Valener of about $1.2 billion, including debt. Noverco is indirectly held by Caisse de dépôt et placement du Québec (CDPQ), Fonds de solidarité FTQ, British Columbia Investment Management Corp, Régime de retraite de l'Université du Québec and Enbridge Inc. CDPQ owns about 65 percent of the vehicle that holds Noverco. Énergir, formerly Gaz Métro LP, is a natural gas distributor and electricity producer operating in Québec and the United States.
28 March 2019•6 mins read
