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BRIEF-Madison Dearborn Partners Agrees To Acquire IPL Plastics Inc

Published 2020-07-29, 08:36 a/m
© Reuters.

July 29 (Reuters) - Ipl Plastics Inc IPLP.TO :

* MADISON DEARBORN PARTNERS AGREES TO ACQUIRE IPL PLASTICS INC.

* IPL PLASTICS INC - DEAL FOR C$10.00 IN CASH PER SHARE

* IPL PLASTICS INC - TRANSACTION VALUES IPLP AT C$555 MILLION ON AN EQUITY BASIS AND AT C$981 MILLION ON AN ENTERPRISE BASIS.

* IPL PLASTICS INC - CDPQ PLANS TO CONTINUE TO SUPPORT DEVELOPMENT OF COMPANY IN QUEBEC AND ABROAD

* IPL PLASTICS - MAJORITY OF OUTSTANDING SHARES OWNED BY CDPQ ARE EFFECTIVELY TO BE ROLLED OVER AT IMPLIED VALUE PER SHARE EQUAL TO PURCHASE PRICE

* IPL PLASTICS INC - UNIT OF CDPQ WILL HOLD A MINORITY EQUITY INTEREST OF APPROXIMATELY 24.9% AFTER DEAL

* IPL PLASTICS INC - AGREEMENT HAS A GO-SHOP PROVISION WITH AN INITIAL 30-DAY PERIOD

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