Quebecor Inc. (QI), Quebecor Media Inc. (QMI) and Caisse de depot
et placement du Quebec (CDP) announced today that they have
completed the closing of the transaction for the partial sale of
CDP's 45.3% interest in QMI in accordance with the conditions
described in the press release issued on October 3, 2012.
The following two transactions were completed as part of the
transaction:
- the repurchase by QMI of 20,351,307 shares of QMI held by CDP,
representing approximately 36.4% of CDP's interest before closing,
for an aggregate purchase price of $1.0 billion, paid in cash at
closing; and
- the purchase by QI of 10,175,653 shares of QMI held by CDP,
representing approximately 18.2% of CDP's interest before closing,
in consideration of the issuance at closing by QI to CDP of $500
million aggregate principal amount of subordinated debentures of
QI, which are convertible into QI Class B Subordinate Shares.
As of this date and taking into consideration the transaction
described herein, CDP now holds 25,439,134 shares of QMI,
representing a 24.6% interest in QMI (excluding the dilution from
options under QMI's stock option plan).
This press release does not constitute an offer to sell or the
solicitation of an offer to buy or sell securities in any
jurisdiction. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933 or any
state securities laws and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements. The securities referred to herein have
not been and will not be qualified for distribution to the public
under applicable Canadian securities legislation.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
The statements in this press release that are not historical
facts are forward-looking statements and are subject to significant
known and unknown risks, uncertainties and assumptions which could
cause Quebecor's actual results for future periods to differ
materially from those set forth in the forward-looking statements.
Forward-looking statements may be identified by the use of the
conditional or by forward-looking terminology such as the terms
"plans," "expects," "may," "anticipates," "intends," "estimates,"
"projects," "seeks," "believes" or similar terms, variations of
such terms or the negative of such terms. Certain factors that may
cause actual results to differ from current expectations include
seasonality (including seasonal fluctuations in customer orders),
operating risk (including fluctuations in demand for Quebecor's
products and pricing actions by competitors), insurance risk, risks
associated with capital investment (including risks related to
technological development and equipment availability and
breakdown), environmental risks, risks associated with labour
agreements, risks associated with commodities and energy prices
(including fluctuations in the cost and availability of raw
materials), credit risk, financial risks, debt risks, risks related
to interest rate fluctuations, foreign exchange risks, risks
associated with government acts and regulations, risks related to
changes in tax legislation, and changes in the general political
and economic environment. Investors and others are cautioned that
the foregoing list of factors that may affect future results is not
exhaustive and that undue reliance should not be placed on any
forward-looking statements. For more information on the risks,
uncertainties and assumptions that could cause Quebecor's actual
results to differ from current expectations, please refer to
Quebecor's public filings available at www.sedar.com and
www.quebecor.com including, in particular, the "Risks and
Uncertainties" section in Quebecor's Management Discussion and
Analysis for the year ended December 31, 2011, and the "Item 3. Key
Information - Risk Factors" as well as statements located elsewhere
in Quebecor Media's annual report on Form 20-F for the year ended
December 31, 2011.
The forward-looking statements in this press release reflect
Quebecor's expectations as of October 11, 2012, and are subject to
change after that date. Quebecor expressly disclaims any obligation
or intention to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws.
About Quebecor and Quebecor Media
Quebecor Media Inc. is a subsidiary of Quebecor Inc. (TSX:QBR.A)
(TSX:QBR.B), one of Canada's most important holding companies
operating in the telecommunications and media businesses. With more
than 16,000 employees, Quebecor Media Inc., through its subsidiary
Videotron Ltd., is an integrated communications company engaged in
cable television, interactive multimedia development, Internet
access services, cable telephone services and mobile telephone
services. Through Sun Media Corporation, Quebecor Media Inc. is the
largest publisher of newspapers in Canada. It also operates
Canoe.ca and its network of English and French language Internet
properties in Canada. In the broadcasting sector, Quebecor Media
Inc. operates, through TVA Group Inc., the number one French
language general interest television network in Quebec, a number of
specialty channels and the SUN News English language channel.
Another subsidiary of Quebecor Media Inc., Nurun Inc., is a major
interactive technologies and communications agency with offices in
Canada, the United States, Europe and Asia. Quebecor Media Inc. is
also active in magazine publishing (TVA Publishing Inc.), book
publishing and distribution (Sogides Group Inc. and CEC Publishing
Inc.), the production, distribution and retailing of cultural
products (Archambault Group Inc. and TVA Films), video game
development (BlooBuzz Studios Inc.), DVD, Blu-ray disc and
videogame rental and retailing (Le SuperClub Videotron Ltd), the
printing and distribution of regional newspapers and flyers
(Quebecor Media Printing Inc. and Quebecor Media Network Inc.),
news content production and distribution (QMI Agency),
multiplatform advertising solutions (QMI Sales) and the publishing
of printed and online directories, through Quebecor
MediaPages(TM).
About Caisse de depot et placement du Quebec
Caisse de depot et placement du Quebec 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.
Contacts: Sources: Quebecor and Quebecor Media Jean-Francois
Pruneau Chief Financial Officer Quebecor Inc. and Quebecor Media
Inc.jean-francois.pruneau@quebecor.com (514) 380-4144 Information:
Martin Tremblay, Vice President, Public Affairs Quebecor Media
Inc.martin.tremblay@quebecor.com (514) 380-1985 Contacts: Caisse de
depot et placement du Quebec Maxime Chagnon Senior Director, Media
Relations 514 847-5493mchagnon@lacaisse.com
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