MONTREAL, June 25 /CNW Telbec/ - The Solidarity Fund QFL (the "Fund") is
proud to partner with Yellow Pages Group (YPG), a Québec and Canadian leader
in local commercial search and Canada's largest telephone directory publisher.
The Fund's $50 million investment was made as part of a recent $260 million
notes issue by YPG Holdings Inc.
"Yellow Pages Group has held a strategic position in a niche segment of
the publishing industry for over 100 years. During this time, it has set
itself apart not only in Canada but in North America as well and has learned
to leverage the Internet and mobile. The Fund is proud to partner with this
Québec beacon and its management team, a group that demonstrates boldness and
leadership. Marketing a product or service is a fundamental aspect of a
company's success, and Yellow Pages is an expert in this regard. YPG will use
our investment to pursue its growth plan. With close to 1 000 employees in
Québec, YPG is one of Québec's foremost companies," said the Fund's senior
vice-president, Normand Bélanger.
In these tough economic and financial times, the Solidarity Fund QFL (the
"Fund") forged ahead with its investments that for the fiscal year ended May
31 reached a record $848 million. Including investments made by its regional
funds and SOLIDE, over 280 companies benefited in this regard. In addition to
this substantial amount, the Fund set aside $542 million for three new
financing programs introduced in the Québec government's last budget. This
most recent investment in Yellow Pages Group is a prime example of the
decisive role the Fund plays in the development of Québec businesses with its
patient, complementary capital.
About the Solidarity Fund QFL
With net assets of $6.2 billion as at November 30, 2008, the Solidarity
Fund QFL is a development capital company that through its RRSP channels the
savings of Quebecers into investments in all sectors of the economy to help
create and maintain jobs and to further Québec's economic growth. The Fund is
a partner, either directly or through its network members, in 1,881 companies.
It currently has nearly 575,000 shareholders and has helped, on its own or
with other financial partners, to create, maintain and protect over 126,000
jobs. For more information, visit www.fondsftq.com.
For further information:
For further information: The telephone number provided below is for the
exclusive use of journalists and other media representatives: Josée Lagacé,
Senior Advisor, Press Relations and Communications, Fonds de solidarité FTQ,
(514) 850-4835, firstname.lastname@example.org