Reported Monday, CGI Intends To Repurchase 2.89M Of Its Shares Held By CDPQ At $138.51 Per Share
$GIB
Professional Services
Consumer Discretionary
CGI intends to enter into a private agreement with CDPQ for the purchase for cancellation of 2,887,878 of its Class A subordinate voting shares ("Class A Shares") held by CDPQ for a price of $138.51 per Class A Share, which represents a discount to the closing price on May 27, 2024 of the Class A Shares on the Toronto Stock Exchange ("TSX").
The transaction will be made in connection with the periodic portfolio rebalancing of CDPQ. Once completed, CDPQ will continue to hold approximately 16.29 million Class A Shares, representing approximately 7.15% of CGI's total outstanding shares.