MONTREAL, Nov. 23 /CNW Telbec/ - The Caisse de dépôt et placement du Québec today announced that it has finalized its $39.8-million investment in Québec company GLV Inc., as part of GLV's takeover of Austrian-based Christ Water Technology AG (CWT). The Caisse took part in this transaction jointly with the Solidarity Fund QFL.
"We're pleased to have played a role in this important transaction for GLV, an industry leader. This investment is consistent with our commitment to reinforce our leadership in Québec," said Normand Provost, Executive Vice-President, Private Equity, and Chief Operations Officer. "Today's announcement is an integral part of our program to provide financing to companies with solid prospects, along with similar announcements made earlier this year. Through its leading-edge expertise and worldwide business networks, the Caisse is helping to develop a core of strong Québec companies whose sights are set on growth both at home and abroad."
"During the course of this transaction, we benefited from the support and expertise of our financial partners, including the Caisse, whose involvement helped the transaction proceed smoothly," said Marc Barbeau, Executive Vice-President and Chief Financial Officer at GLV. "We are delighted to be finalizing this acquisition, which will allow GLV to step up its development in a fast-growing sector and reinforce its market position."
GLV is a leading supplier of technological solutions for water treatment and pulp and paper production. By acquiring CWT, a company specializing in industrial and municipal water treatment technologies, GLV is pursuing its global expansion. Active in Québec and around the world, GLV distinguishes itself from its competitors through its ability to offer comprehensive solutions to its clients. This strategic acquisition will enable GLV to continue its growth, strengthen its market position and expand further internationally.
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. At December 31, 2008, it held $120.1 billion of net assets. As one of the leading institutional fund managers in Canada, the Caisse invests in the main financial markets as well as in private equity and real estate. For more information: www.lacaisse.com.
SOURCE Caisse de dépôt et placement du Québec
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