MONTREAL, July 21, 2010 /CNW Telbec/ - Société générale de financement du Québec (SGF) announces its purchase of 4.3 million common shares, at an approximate value of $40 million, issued by Ubisoft Entertainment SA, one of the world's foremost video game developers and editors, representing roughly 4.5% of the company's total shares.
This SGF investment stems mainly from the significant economic impact of Ubisoft's presence in Québec. "Ubisoft's Montréal studio is a center of excellence boasting a world-class reputation for its creation of highly innovative game designs and its employees' much sought-after expertise," says Pierre Shedleur, SGF President and General Manager.
Since launching its Québec operations in 1997, Ubisoft has created 2,300 direct jobs and 750 other indirect jobs among its suppliers. Its development plan, unveiled in 2007, includes the creation of 700 new direct jobs, an additional 250 indirect jobs, as well as a game and movie technology convergence center in Montréal by late 2013.
Société générale de financement du Québec (sgfqc.com), an industrial and financial holding company, has a mission to carry out economic development projects, particularly in the industrial sector, in cooperation with partners and in compliance with accepted profitability requirements and with the economic development policy of the Québec government. As part of its new mandate, SGF is authorized by the Québec government to go beyond its traditional role as an equity investor by offering complementary financial solutions, such as loans, debentures or preferred share investment.
SOURCE SOCIETE GENERALE DE FINANCEMENT DU QUEBEC
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