On June 30, 2017, Canam Groupe Inc. announced the completion of a statutory arrangement under the Business Corporations Act (Québec) pursuant to which Canaveral Acquisition Inc., a company held by members of the Dutil family, American Industrial Partners, Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ, as purchaser, acquired all of the issued and outstanding common shares of Canam, except for the shares contributed to the purchaser by certain shareholders part of the purchaser by way of rollover, for a cash consideration of $12.30 per Share. The purchase of 100% of the equity of Canam represents a total enterprise value of approximately $875 million, including the assumption of existing indebtedness.
Fasken Martineau acted as legal counsel to Canam Group Inc. in this transaction with a team that included Jean-Pierre Chamberland, Marie-Josée Neveu and Kiran Singh (M&A), Alain Riendeau and Brandon Farber (Commercial Litigation), Marc Novello (Banking), Huy Do (Competition) and Alain Ranger (tax).
