April 27, 2017 / 12:34 PM / 3 months ago

BRIEF-Canam Group announces going-private transaction

2 Min Read

April 27 (Reuters) - Canam Group Inc:

* Canam Group announces going-private transaction by a group of investors led by the Dutil family

* Canam Group Inc - deal for $12.30 per share in cash.

* Canam Group Inc - purchase of 100% of equity of canam represents a total enterprise value of approximately $875 million

* Canam Group Inc - Canam will maintain its head office in Québec

* Canam Group Inc - board of directors of Canam unanimously approved transaction

* Canam Group - upon completion of transaction, AIP will own a majority of issued and outstanding shares of Canam and control its board of directors

* Canam Group -Caisse De Dépôt Et Placement Du Québec and fonds de Solidarité Ftq are expected to participate in transaction as equity investors

* Canam Group Inc says investors have agreed to pay corporation a termination fee of $14 million if transaction is not completed in certain circumstances

* Canam- Each director and senior officer of canam has agreed to support and vote all of such individual's shares in favour of arrangement resolution

* Canam Group Inc - Canam shareholders holding approximately 14.0% of outstanding shares have agreed to vote their shares in favour of transaction

* Canam Group - Dutil family, American Industrial partners will acquire all shares, except for about 4.7 million shares already owned by Dutil Family Group Source text for Eikon: Further company coverage:

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