- An indirect, wholly-owned subsidiary of TELUS Corporation (NYSE:TU) has inked a purchase agreement with an entity affiliated with Baring Private Equity Asia (BPEA) relating to the acquisition by TELUS of 3M multiple voting shares of TELUS International (NYSE:TIXT) from BPEA for $22.00 per share, representing total consideration of $66M.
- The purchased shares represent approximately 1.5% of the outstanding multiple voting shares of TELUS International and approximately 1.1% of all outstanding shares.
- “Following thoughtful consideration, it is our strong belief that this represents an attractive opportunity to invest further in TELUS International,” commented Darren Entwistle, President and CEO of TELUS. “This share purchase is reflective of our strong, ongoing confidence in the continued prospects and robust profitable growth trajectory of the TELUS International organization, and demonstrates our continued support for our TELUS international team and their strategic objectives.”
- After giving effect to the purchase, TELUS will hold an aggregate of 149,504,019 multiple voting shares and no subordinate voting shares of TELUS International.
- On closing, the shares held by TELUS (TU) will represent approximately 56.17% of the outstanding shares of TELUS International, 74.78% of the outstanding multiple voting shares of TELUS International (TIXT) and 72.38% of the outstanding voting rights of TELUS International.