CGI completes $100 mln buyback of Caisse de dépôt shares
CGI Group Inc (TSX: GIB.A, NYSE: GIB) has completed its previously-announced buyback of subordinate voting shares from the Caisse de dépôt et placement du Québec. The shares were repurchased at $40.15 per share, or approximately $100 million in total. The CGI buyback forms part of a $400 million secondary transaction by which the pension fund manager will reduce its stake in the company to 18.7 percent. Last year, the Caisse de dépôt made a $1 billion private equity investment in the Montréal-based CGI, an information technology and business process services company.
2 December 2013•2 mins read
