Staff
The Caisse de dépôt et placement du Québec and German investment company SKion will acquire the water treatment company Ovivo for $4 in cash per share.
This price is equivalent to approximately 11 times Ovivo’s 2016 earnings before interest, taxes, depreciation and amortization.
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Caisse will increase its ownership of Ovivo from 18.7 per cent to 30 per cent. SKion will own the remaining 70 per cent.
“La Caisse decided to increase its stake in Ovivo to support the company as it develops in a very promising industry through innovation and business acquisitions,” said Christian Dubé, executive vice-president, Québec at Caisse, in a news release.