CGI (TSX: GIB.A) (NYSE: GIB) announced that it intends to enter into a private agreement with Caisse de dépôt et placement du Québec for the purchase for cancellation of 6,008,905 of its Class A subordinate voting shares held by la Caisse for a price of $99.85 per Class A Share, which represents a discount to the closing price on February 14, 2020 of the Class A Shares on the Toronto Stock Exchange.
The transaction will be made in connection with the periodic portfolio rebalancing of la Caisse. Once completed, la Caisse will continue to hold approximately 31.4 million Class A Shares, representing approximately 11.9% of CGI's total outstanding shares.
Fasken acted for CGI Inc. in connection with this matter with a team that included Jean Michel Lapierre and Guillaume Saliah.
