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Metro enters into agreements to sell the majority of its holding in Alimentation Couche-Tard
Metro enters into agreements to sell the majority of its holding in Alimentation Couche-Ta...
About this update from Metro Inc.
[{"type":"text","content":"\n\n\n\nMetro enters into agreements to sell the majority of its holding in Alimentation Couche-Tard\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Oct. 11, 2017\n\n\n\nMONTREAL, Oct. 11, 2017 /CNW Telbec/ - Metro Inc. (Metro) (TSX: MRU) announces today that it and its wholly-owned subsidiary, Metro Canada Holdings Inc. (Metro Holdings), have entered into three separate agreements to realize the value of the majority of its holding in Alimentation Couche-Tard Inc. (Couche-Tard) (TSX: ATD.A ATD.B). \n\nMetro Holdings has agreed to sell to dealers led by National Bank Financial Inc. and BMO Capital Markets, as bookrunners, by way of a bloc trade bought deal, a total of 11,369,599 Class B Subordinate Voting Shares of Couche-Tard at a price per share of $57.17, for proceeds of approximately $650 million. These shares represent approximately 2.7% of the outstanding Class B Subordinate Voting Shares of Couche-Tard and approximately 2.0% when combined with the Class A Multiple Voting Shares of Couche-Tard. This sale will be preceded by the conversion of 11,369,599 Class A Multiple Voting Shares of Couche-Tard currently held by Metro Holdings into Class B Subordinate Voting Shares, in accordance with Couche-Tard's articles. \n\nMetro Holdings has also agreed to sell to CDP Investissements Inc. et CDPQ Marchés Boursiers Inc., two wholly-owned subsidiaries of Caisse de dépôt et placements du Québec, by way of a private agreement, a total of 11,369,599 Class A Multiple Voting Shares of Couche-Tard at a price per share of $57.17, for proceeds of approximately $650 million. These shares represent approximately 7.7% of the outstanding Class A Multiple Voting Shares of Couche-Tard and approximately 2.0% when combined with the Class B Subordinate Voting Shares of Couche-Tard.\n\nThe completion of the sales with the dealers and Caisse de dépôt et placements du Québec's subsidiaries will occur within the next 2 business days. As a result of such sales, Metro and Metro Holdin...