US$470 million investment in Agropur’s capital

A prominent group of Québec institutional investors entered into a transaction to support the growth strategy of Agropur Cooperative, Canada’s largest dairy cooperative, by investing in preferred investment shares. With this $470 million investment, the consortium comprised of Caisse de dépôt et placement du Québec, National Bank, Fonds de solidarité FTQ, Fondaction CSN, Capital régional et coopératif Desjardins and Investissement Québec partnered to support the completion of a series of recent acquisitions by Agropur Cooperative in Canada and the United States. The creation of this equity investment vehicle in the capital of a cooperative, and the successful implementation of this financing, are the results of lengthy efforts by a team of Fasken Martineau lawyers including Diane Bertrand, Sylvie Bourdeau and Joëlle Simard, with respect to business and cooperative matters, and Alain Ranger for tax matters.