MONTRÉAL, Aug. 26, 2015 /CNW Telbec/ - Caisse de dépôt et placement du Québec ("CDPQ") announced today a $62.5-million equity investment in WSP Global Group Inc. ("TSX: WSP"), a global engineering leader, whose head office is in Montréal.
This investment is in connection with the announcement made today by WSP to acquire MMM Group, a Canadian consulting services leader in the engineering industry, with around 20 offices in Canada, including one in Montréal.
"This new investment by la Caisse is consistent with the business relationship we have built with WSP, a global firm well rooted in Québec, to support its growth strategy through acquisition," said Christian Dubé, Executive Vice-President, Québec. "The acquisition of MMM Group will enable WSP to strengthen its presence in Canada's transportation and infrastructure sectors and further its expertise in PPPs, particularly in Ontario."
In addition to this new investment of $62.5 million, CDPQ invested some $420 million over the past four years to allow WSP to broaden its presence on all continents and consolidate its positioning in global markets.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2015, it held $240.8 billion in net assets. As one of Canada's leading institutional fund managers, la Caisse, which marks its 50th anniversary this year, invests globally in major financial markets, private equity, infrastructure and real estate. For more information about la Caisse: www.cdpq.com.
SOURCE Caisse de dépôt et placement du Québec
For further information: Maxime Chagnon, Senior Director, Media and Public Relations, 514 847-5493, [email protected]