MONTREAL, Sept. 12, 2011 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec announced its acquisition of a block of 6 000 000 common
shares of Industrial Alliance, Insurance and Financial Services Inc.,
representing an additional investment of close to $200 million in this
company. Based in Québec City since 1892, Industrial Alliance is a life
and health insurance company active in the North American market. The
company has more than 3,900 employees and manages and administers over
$70 billion in assets.
"Industrial Alliance is a long-standing partner of the Caisse. Created
over a century ago, this Québec company has an impressive track record.
Enjoying a leadership position in the country's life and health
insurance industry, the company is very well positioned to continue to
grow," indicated Normand Provost, Executive Vice-President, Private
Equity and Chief Operations Officer of the Caisse. This investment is
part of our strategy to invest in high-quality and promising Québec
companies in an effort to generate long-term returns for our
depositors," he added.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financisal institution
that manages funds primarily for public and private pension and
insurance plans. As at December 31, 2010, it held $151.7 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity and real
estate. For more information: www.lacaisse.com.
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
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