National Bank of Canada, the Fonds de solidarité FTQ, Fondaction CSN, and Capital régional et coopératif Desjardins invest $200 million in La Coop fédérée

June 28, 2017

On June 28, 2017, it was announced that the National Bank of Canada, the Fonds de solidarité FTQ, Fondaction CSN, and Capital régional et coopératif Desjardins ("CRCD") has invested $200 million in the capital of La Coop fédérée, Quebec's largest agri-food enterprise.

A first instalment of $100 million has already been subscribed to and a second instalment for the same amount will be subscribed to between now and the end of 2018 at the request of La Coop fédérée and subject to the provisions of the agreement. For every $100 million segment, National Bank of Canada contributes $45.0 million, the Fonds de solidarité FTQ $22.5 million, Fondaction $17.5 million and Capital régional et coopératif Desjardins $15.0 million.

This investment is in the form of preferred shares and the invested amounts are paid as share capital into La Coop fédérée. The proceeds from this investment will be used to finance acquisitions and capital investment projects that are anticipated in La Coop fédérée's five-year plan.

Fasken Martineau represented the institutional investors with a team led by Diane Bertrand, that included Marie-Eve Clavet, Simon Bisson, Jonathan Raizenne (M&A), Pierre-Olivier Charlebois, Jean-Philippe Therriault (Environment) and Svetlana Samochkine (Banking).