Stella-Jones closes $876.5 mln buyout of top shareholder
Montréal-based wood products company Stella-Jones Inc (TSX: SJ) has closed an $876.5 million secondary offering and private placement that bought the remaining interest held by its principal shareholder, Stella Jones International SA. The deal, announced in July, included a $533 million private placement through which shares were sold to British Columbia Investment Management Corp, Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, GPI Capital, Ontario Municipal Employees Retirement System and President and CEO Brian McManus. Following the transactions, founding partners Tom Bruce Jones and Gianni Chiarva stepped down as chairman and vice-chairman.
14 August 2018•3 mins read
