MONTREAL, Dec. 10, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec has just entered into a binding agreement to purchase, on a private placement basis, $400-million of common shares of MEG Energy Corp. ("MEG"), a Canadian company. This private placement is part of the issuance of share capital totalling $800 million announced earlier today by MEG. The closing of the private placement is expected to occur on or about December 28, 2012.
"Energy is a major sector in the Canadian economy, and our investments in the best companies in this industry enable us to generate attractive returns for our depositors," said Normand Provost, Executive Vice-President, Private Equity at the Caisse.
The Caisse has had an equity stake in MEG Energy since 2004. Following this transaction, its interest in the company will total around 9% of the common shares outstanding.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held $159.0 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com.
SOURCE: CAISSE DE DEPOT ET PLACEMENT DU QUEBEC