CPPIB, the Caisse invest $144 mln in WSP's purchase of MMM
WSP Global Inc (TSX: WSP) has raised about $345 million through a bought deal offering and a private placement. The latter involved a raise of approximately $144 million from existing shareholders the Canada Pension Plan Investment Board (CPPIB) and the Caisse de dépôt et placement du Québec. The proceeds of the two transactions will be used to help finance WSP's purchase of MMM Group Ltd, a Canadian engineering consulting business, for $425 million. It was previously reported that the Caisse was investing in the acquisition. As a result of the private placement, CPPIB and the Caisse now hold about 17.8 percent and 18 percent, respectively, of Montréal-based WSP's issued and outstanding shares.
16 September 2015•6 mins read
