MONTREAL, Dec. 1 /CNW Telbec/ - In a transaction that brings back ownership of the Montréal Canadiens Hockey Club to Québec, the Solidarity Fund QFL (the "Fund") today proudly announced a $50 million investment, making it one of the team's principal owners. The transaction also includes the Bell Centre and Gillett Entertainment Group.
"With this symbolic transaction, the Fund's 571,000 owners and shareholders also become the owners of this Québec jewel. The Montréal Canadiens are a part of our heritage and we are thrilled to be joining the ranks of the Molson family and the other investors. The team will thus benefit from the expertise of entrepreneurs with a proven track record and solid institutions like the Fund, which have a genuine interest in Québec's development. In fact, this investment will reflect on many other goods and services companies, thereby directly affecting our economy. By getting involved in the Montréal Canadiens, the Fund is acquiring a quality asset that creates economic spinoffs and jobs and brings the team's ownership back into Québec hands," states Fund Chairman and QFL President Michel Arsenault.
About the Solidarity Fund QFL
The Solidarity Fund QFL helps drive our economy. With net assets of $6.4 billion as at May 31, 2009, the Fund 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 2,000 companies. It currently has nearly 571,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect nearly 143,000 jobs. For more information, visit www.fondsftq.com.
SOURCE Fonds de solidarité FTQ
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, Solidarity Fund QFL, (514) 850-4835