The Caisse de dépôt et placement du Québec is acquiring Innergex Renewable Energy Inc. in a deal worth roughly $10 billion.
The transaction will see common shareholders receive $13.75 per share, which represents a 58 per cent premium from the company’s current share price. In a press release, Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, said Innergex is a leader in renewable energy across North America.
“This investment perfectly illustrates our constructive capital and dual mandate in action: while we strive for optimal returns, we are committed to supporting essential businesses headquartered in Quebec, such as Innergex, which plays a key role in the energy transition and autonomy.”
Read: Caisse invests $35M in energy transition fund, AIMCo buys Australian rural portfolio
In other news, the Caisse is investing in an upsized $300 million debt facility for fibre optic internet company Surf Internet.
The technology firm is also raising US$175 million as part of a new equity funding led by Bain Capital and Post Road Group. The debt upsize was led by DigitalBridge Credit with new commitments from Boundary Street Capital and Liberty Mutual Investments.
According to a press release, the new capital will be used by Surf Internet to scale its offerings and reach 275,000 fibre passings in 2025.
Read: Caisse selling 1.4% of common shares in Intact, IMCO writing down Northvolt investment: report