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WSP closes US$201 million public offering and US$144 million concurrent private placement of common shares

Fasken
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Overview

Client

Confidential Client

September 16, 2015 – WSP Global Inc. has completed its bought deal public offering of common shares and private placement of common shares for aggregate gross proceeds of approximately $345 M to finance the acquisition of MMM Group Limited, one of the largest privately owned engineering consulting companies in Canada. The Corporation issued 4,763,300 common shares, including the 621,300 common shares issued as a result of the exercise of the over-allotment option granted to the syndicate of underwriters, co-led by CIBC, Raymond James and TD Securities, from treasury at a price of $42.25 per common share for aggregate gross proceeds of approximately $201 M. The acquisition and related transactions costs were financed by the following sources: a bought deal public offering at a price of $42.25 per common share and maximum additional gross proceeds of $26.25 million dollars pursuant to the over-allotment option; a private placement at a price of $42.25 per common share with two current shareholders: (i) Canada Pension Plan Investment Board, and (ii) the Caisse de dépôt et placement du Québec, and maximum additional gross proceeds of $18.75 million dollars pursuant to the additional subscription option; funds drawn under current credit facilities. Fasken Martineau represented the underwriters during this transaction. The team was composed of Gabriel Castiglio, Jean Michel Lapierre, Caitlin Rose and Marie-Christine Valois (Corporate Law), and Gilles Carli (Tax).

Team

  • Jean Michel Lapierre, Partner, Montréal, QC, +1 514 397 7579, jmlapierre@fasken.com
  • Caitlin Rose, Partner | Co-Leader, Private Equity, Montréal, QC, +1 514 397 5277, crose@fasken.com
  • Marie-Christine Valois, Partner, Montréal, QC, +1 514 397 7413, mvalois@fasken.com