On August 16, 2022, WSP Global Inc., one of the world’s leading professional services firms, announced the completion of a $920 million equity offering, comprised of a $460 million bought deal public offering and $460 million concurrent private placements from GIC, CDPQ and CPP Investments.
The equity offering was completed on the back drop of WSP’s announcement on August 8, 2022 of the offer to acquire RPS Group plc for approximately $975 million and WSP’s announcement on June 1, 2022 of a binding agreement to acquire the Environment & Infrastructure (E&I) consulting business of John Wood Group plc for US$1.81 billion. The net proceeds were intented to be used mainly in connection with the acquisition of RPS Group and in the event that such acquisition was not completed, in connection with the E&I acquisition.
A Fasken team principally composed of Jean-Pierre Chamberland, Jean-Michel Lapierre, Marie-Christine Valois, Guillaume Saliah, Paul Khoury and Lucas Noradounkian advised the underwriters led by CIBC World Markets Inc. for the bought deal public offering. Ryan Rabinovitch assisted on the tax side, and Annie Bernard, Christine Provencher and Hugo Séguin assisted with respect to professional services and construction industry matters.