Cascades completes sale of its shares of Boralex
July 30, 2017 By P&PC Staff
Jul. 30, 2017 – Cascades has completed the previously announced sale of 13,153,799 Class A shares of Boralex to the Caisse de dépôt et placement du Québec at a price of $21.86 per share, for a total consideration of $287,542,046.10, under a securities purchase agreement announced last Thursday by Cascades, Cascades Canada ULC and the Caisse.
The shares were sold pursuant to a private transaction and not through a securities exchange.
The shares represent approximately 17.3 per cent of the issued and outstanding Class A shares of Boralex, being 100 per cent of such shares held by Cascades, directly or indirectly, immediately prior to the Sale. Cascades now holds no securities of Boralex, directly or indirectly.
Cascades sold the shares to monetize its investment.
The percentage of the issued and outstanding Class A shares of Boralex owned or controlled by Cascades is based on the disclosure of the number of issued and outstanding common shares of Boralex contained in the public disclosure documents filed by Boralex on SEDAR.
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