The Caisse de depôt et placement du Québec has purchased 445,000 common shares of SNC-Lavalin at an average price of $44.44 per share.
Following this transaction, it now holds 15,462,100 common shares of SNC, representing 10.2% of the shares outstanding.
The Caisse says it may increase or decrease its interest in SNC based on market conditions or other relevant factors.
It was forced to make the announcement in accordance with the early warning requirements stipulated by securities regulation that require investors to issue and file a news release and a report when they acquire beneficial ownership of securities with voting rights that would represent—with the securities they already hold—10% or more of the outstanding shares.
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