MONTRÉAL, July 27, 2017 /CNW
Telbec/ - Boralex Inc. ("Boralex" or the
"Company") (TSX: BLX) announced today that Caisse de dépôt
et placement du Québec ("la Caisse") has acquired all of the
Class A common shares of Boralex held by Cascades Inc. representing
17.3% of the outstanding shares for the amount of $287.5 million.
As part of the transaction, the Company and la Caisse have
agreed to explore partnership opportunities with respect to
investing in future projects developed by Boralex that are in line
with its growth strategy.
"We wish to thank Cascades for its support since Boralex was
founded in 1995. Bernard Lemaire's
vision has allowed Boralex to become a leader in the Canadian
renewable energy industry and France's largest independent producer of
onshore wind power. Boralex is pleased to welcome la Caisse as a
new major shareholder in a transaction that will benefit the
company as well as its shareholders," said Alain Rhéaume, Chairman
of the Board of Directors of Boralex.
"To have la Caisse come in as principal shareholder reflects the
trust it puts in the business model and know-how of Boralex. We
intend to work with la Caisse to develop growth opportunities
through its financial capabilities, expertise and international
network," said Patrick Lemaire,
President and Chief Executive Officer of Boralex.
"This stake in Boralex is an opportunity for us to invest in
both a promising sector and high-quality assets, many of which are
in Québec. In addition to sharing our long-term vision, Boralex's
ability to innovate and strong operating capacity ensure the
reliability of its installations and contribute to its development.
It has played an important role in the growth of this Québec-based
company, both here and in global markets," added Macky Tall, Executive Vice-President,
Infrastructure, at la
Caisse.
The transaction completed today strengthens la Caisse's position
as one of the largest private investors in North America's wind power sector.
La Caisse will appoint two independent directors to Boralex's
Board of Directors and will have pre-emptive rights with respect to
future issuances of shares, subject to customary exceptions.
About Boralex
Boralex develops, builds and operates renewable energy power
facilities in Canada, France and the
United States. A leader in the Canadian market and
France's largest independent
producer of onshore wind power, the Corporation is recognized for
its solid experience in optimizing its asset base in four power
generation types — wind, hydroelectric, thermal and solar. Boralex
ensures sustained growth by leveraging the expertise and
diversification developed over the past 25 years. Boralex's shares
and convertible debentures are listed on the Toronto Stock Exchange
under the ticker symbols BLX and BLX.DB.A, respectively. More
information is available at www.boralex.com or www.sedar.com.
About Caisse de dépôt et placement du Québec
Caisse de dépôt et placement du Québec (CDPQ) is a long-term
institutional investor that manages funds primarily for public and
parapublic pension and insurance plans. As at December
31, 2016, it held $270.7 billion in net assets. As one of
Canada's leading institutional
fund managers, CDPQ invests globally in major financial markets,
private equity, infrastructure, real estate and private credit. For
more information, visit cdpq.com, follow us on Twitter @LaCDPQ
or consult our Facebook or LinkedIn pages.
Forward-looking statements
Certain statements contained in this news release may
constitute forward-looking statements which involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
Forward-looking statements are based on certain factors and
assumptions, and there can be no assurance that such assumptions
will prove to be correct. Readers are cautioned that
forward-looking statements included in this news release are not
guarantees of future performance, and are also cautioned not to
place undue reliance on forward-looking statements which involve
known and unknown material risks and uncertainties that may cause
our actual results, performance or achievements to be materially
different from any anticipated results, performance or achievements
expressed or implied in such forward-looking statements. These
statements speak only as of the date of this news release. Boralex
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be expressly required by
applicable securities law.
SOURCE Caisse de dépôt et placement du Québec