MONTREAL, June 6, 2012 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec announced a $100-million equity investment in Laurentian
Bank. The transaction is part of the banking institution's development
plan carried out in part to raise its profile across the country.
Through the Caisse's financing and a well-structured capital deployment
strategy, the Bank, led by a solid management team, will continue to
grow and enhance its presence in the market. We recall Laurentian Bank
announced earlier today the acquisition of AGF Trust.
"Laurentian Bank has been part of the Québec landscape for more than 165
years and has carved out a place in the Canadian financial markets,
notably through a subsidiary specialized in banking services
distribution. The Caisse is now becoming a partner of this growing bank
whose performance will ensure a promising future and attractive returns
for our depositors," said Normand Provost, Executive Vice-President,
Private Equity at the Caisse.
"We are delighted to be able to count on the contribution of the Caisse
de dépôt et placement du Québec as a shareholder of Laurentian Bank,"
said Réjean Robitaille, President and CEO of Laurentian Bank. "Their
support will enable us to continue to deploy our business plan on a
pan-Canadian scale, creating long-term value for our investors."
ABOUT LAURENTIAN BANK
Laurentian Bank is well established in the Province of Québec, operating
the third-largest retail branch network. Elsewhere throughout Canada,
it operates in specific market segments where it holds an enviable
position. Laurentian Bank of Canada has more than $30 billion in
balance sheet assets and more than $33 billion in assets under
administration. Founded in 1846, it has been selected among the Québec
and Atlantic Canada regional winners of the 2011 edition of Canada's 10
Most Admired Corporate Cultures™ program presented by Waterstone Human
Capital. The Bank employs more than 4,000 people.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at December 31, 2011, it held $159.0 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
For further information:
Senior Advisor, Media Relations