MONTRÉAL, July 6, 2017 /CNW Telbec/ - As provided by the agreement signed in September 2015 between the Caisse de dépôt et placement du Québec (the Caisse), Quebecor Media announced today that it has purchased and cancelled 541,899 common shares from the Caisse, for a consideration of approximately $38 million. Following the transaction, the Caisse holds 17,628,911 common shares of Quebecor Media or an 18.47% interest.
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in Québec. It holds an 81.53% interest in Quebecor Media, which employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports people working with more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
For further information: Martin Tremblay, Vice President, Public Affairs, Quebecor, 514-380-1985, email@example.com; Jean-François Pruneau, Senior Vice President and Chief Financial Officer, Quebecor, 514-380-4144, firstname.lastname@example.org