CGI to buy back $400 mln in shares owned by Caisse de dépôt
Canadian information technology and business process services company CGI Group Inc (TSX: GIB.A, NYSE: GIB) has agreed to repurchase 7.1 million Class A subordinate voting shares currently held by the Caisse de dépôt et placement du Québec. Priced at $56.24 per share, the buyback deal is valued at about $400 million. In 2012, the Caisse invested $1 billion in Montréal-based CGI to support the company's acquisition of the United Kingdom's Logica Plc. The Caisse said the share repurchase represents a portfolio rebalancing that will leave it with about 16.4 percent of CGI’s total outstanding shares.
4 March 2016•3 mins read
