/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
VALCOURT, QC, Oct. 9, 2013 /CNW Telbec/ - BRP Inc. ("BRP" or the
"Company") announced today the closing of the previously announced
bought deal secondary offering pursuant to which Bain Capital
Luxembourg Investments S.à r.l. ("Bain"), Caisse de dépôt et placement
du Québec ("CDPQ") and other selling shareholders (collectively,
the "Selling Shareholders") sold an aggregate of 8,000,000 subordinate
voting shares of BRP ("Subordinate Voting Shares") at a price of $27.85
per Subordinate Voting Share for aggregate gross proceeds of
approximately $223 million to the Selling Shareholders. 5,986,735 of
the Subordinate Voting Shares were sold by Bain, 1,279,097 of the
Subordinate Voting Shares were sold by CDPQ and 734,168 of the
Subordinate Voting Shares were sold by the other selling shareholders.
The Company did not receive any of the proceeds from this offering.
Following this offering, Beaudier Inc. and 4338618 Canada Inc., Bain and
CDPQ hold 41,237,476, 40,145,521 and 7,640,347 multiple voting shares
of BRP ("Multiple Voting Shares" and, collectively with the Subordinate
Voting Shares, the "Shares"), respectively, representing approximately
34.9%, 34.0% and 6.5%, respectively, of the Company's issued and
outstanding Shares and approximately 43.9%, 42.8% and 8.1%,
respectively, of the voting power attached to all outstanding Shares.
The Subordinate Voting Shares were offered by an underwriting syndicate
led by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., UBS
Securities Canada Inc. and Citigroup Global Markets Canada Inc., acting
as joint bookrunners, and including CIBC World Markets Inc., Desjardins
Securities Inc., Scotia Capital Inc., National Bank Financial Inc. and
Robert W. Baird & Co.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of the Company in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. The securities have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable
exemption from the registration requirements of the U.S. Securities Act
of 1933 and other applicable securities laws.
BRP (TSX:DOO) is a global leader in the design, development,
manufacturing, distribution and marketing of powersports vehicles.
Distributed in 105 countries, its portfolio of brands and products
includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am
all-terrain and side-by-side vehicles, Can-Am roadsters, Evinrude
outboard engines, as well as Rotax propulsion systems. BRP employs
approximately 6,800 people worldwide.
Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, Spyder and the BRP logo
are trademarks of Bombardier Recreational Products Inc. or its
Certain statements in this press release constitute forward-looking
statements. The words "scheduled", "may", "will", "would", "should",
"could", "expects", "plans", "intends", "trends", "indications",
"anticipates", "believes", "estimates", "predicts", "likely" or
"potential" or the negative or other variations of these words or other
comparable words or phrases, are intended to identify forward-looking
statements. Forward-looking statements are based on estimates and
assumptions made by the Company in light of its experience and
perception of historical trends, current conditions and expected future
developments, as well as other factors that the Company believes are
appropriate and reasonable in the circumstances, but there can be no
assurance that such estimates and assumptions will prove to be correct.
Many factors could cause the Company's actual results or affairs to
differ materially from those expressed or implied by the
forward-looking statements, including, without limitation, the factors
discussed in the "Risk Factors" section of the final short form
prospectus dated October 2, 2013 available at www.sedar.com. These factors are not intended to represent a complete list of the
factors that could affect the Company; however, these factors should be
considered carefully. The forward-looking statements contained in this
press release are made as of the date of this press release, and the
Company has no intention and undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable securities regulations.
For further information:
Manager, Corporate Communications