However,
Innergex acquisition | it necessary:
(Montreal) The Caisse de Dépôt et Placement du Québec (CDPQ). Similarly, the Legault government participated in the acquisition of the renewable energy producer Innergex to keep the head office in Quebec, said the Minister of Economy and Energy, Christine Fréchette on Wednesday. Therefore,
Posted at 10:26 a.m. Updated at 11:40 a.m.
The company could have been bought by American interests. In addition, without this intervention, advanced the minister, in a press scrum innergex acquisition | it necessary before entering the Council of Ministers. Moreover,
“It is important that we keep the benefits for the energy transition in Quebec. Therefore, this is what this investment will allow,” said Mr.me Freedom. Nevertheless,
Investissement Québec. Nevertheless, the Quebec government’s financial arm, could put up to 500 million in this transaction valued at 10 billion taking into account the debt. Similarly,
The cash register launched the ball in February, announcing its intention to acquire the Longueuil company for an amount of $ 13.75 per share. Similarly, The fund had meant its intention to find other investors for a participation of around 20 %.
After the conclusion of the transaction in July, the Caisse confirmed that Investing Quebec would be among the shareholders. The Desjardins movement, the Fondaction innergex acquisition | it necessary workers’ fund and 14 Swiss institutional investors are also there.
“We put all our weight with the Caisse de Dépôt. other partners to make sure to secure Quebec in Quebec in Quebec, this player of importance as part of the energy transition,” said the minister.
Mme Fréchette was questioned whether the government’s participation was necessary when the fund had already concluded an agreement.
She replied that Innergex had been the subject of a “hostile purchase offer” on the part of an American investor. “We had to make sure to react and the box acted quickly. »»
Before the transaction announced. Innergex’s action was under pressure on the stock market due to the hostile comments of the Trump administration towards renewable energies.
This drop in the price of the action aroused the interest of two potential buyers. in addition to the fund, according to regulatory documents published in March.
Innergex was approached in September by an investment capital firm. the name of which has not been revealed, still according to the document.
The cash register demonstrated its interest later in November. Additionally, The administrators of Innergex then agreed to analyze the two proposals as well as the possibility of remaining a. listed company.
Another buyer would have had little chance of getting their hands on Quebec. once the fund has made its interest known. Without the support of Hydro-Québec (19.9 % of shares) and the fund (6.6 % of shares), a buyer could hardly obtain enough support to move forward.
Hydro-Québec only had eyes for the body. The Crown Company “expressly confirmed in writing that it did not intend to support” another proposal than that of the Caisse. can be read in the document.
“A major financial player” also approached the company in December. but the proposal was killed in the egg by Hydro-Québec.
Innergex acquisition | it necessary
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