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Closing of the Transaction for the Partial Sale of Caisse de depot et placement du Quebec's Interest in Quebecor Media Inc.

Date : 10/12/2012 @ 4:24AM
Source : Marketwired
Stock : Quebecor Inc., CL.A, Mv (QBR.A)
Quote : 26.68  0.0 (0.00%) @ 1:06AM
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Closing of the Transaction for the Partial Sale of Caisse de depot et placement du Quebec's Interest in Quebecor Media Inc.

Quebecor Inc., CL.A, Mv (TSX:QBR.A)
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Quebecor Inc. (QI), Quebecor Media Inc. (QMI) and Caisse de depot et placement du Quebec (CDP) announced today that they have completed the closing of the transaction for the partial sale of CDP's 45.3% interest in QMI in accordance with the conditions described in the press release issued on October 3, 2012.

The following two transactions were completed as part of the transaction:

- the repurchase by QMI of 20,351,307 shares of QMI held by CDP, representing approximately 36.4% of CDP's interest before closing, for an aggregate purchase price of $1.0 billion, paid in cash at closing; and

- the purchase by QI of 10,175,653 shares of QMI held by CDP, representing approximately 18.2% of CDP's interest before closing, in consideration of the issuance at closing by QI to CDP of $500 million aggregate principal amount of subordinated debentures of QI, which are convertible into QI Class B Subordinate Shares.

As of this date and taking into consideration the transaction described herein, CDP now holds 25,439,134 shares of QMI, representing a 24.6% interest in QMI (excluding the dilution from options under QMI's stock option plan).

This press release does not constitute an offer to sell or the solicitation of an offer to buy or sell securities in any jurisdiction. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. The securities referred to herein have not been and will not be qualified for distribution to the public under applicable Canadian securities legislation.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

The statements in this press release that are not historical facts are forward-looking statements and are subject to significant known and unknown risks, uncertainties and assumptions which could cause Quebecor's actual results for future periods to differ materially from those set forth in the forward-looking statements. Forward-looking statements may be identified by the use of the conditional or by forward-looking terminology such as the terms "plans," "expects," "may," "anticipates," "intends," "estimates," "projects," "seeks," "believes" or similar terms, variations of such terms or the negative of such terms. Certain factors that may cause actual results to differ from current expectations include seasonality (including seasonal fluctuations in customer orders), operating risk (including fluctuations in demand for Quebecor's products and pricing actions by competitors), insurance risk, risks associated with capital investment (including risks related to technological development and equipment availability and breakdown), environmental risks, risks associated with labour agreements, risks associated with commodities and energy prices (including fluctuations in the cost and availability of raw materials), credit risk, financial risks, debt risks, risks related to interest rate fluctuations, foreign exchange risks, risks associated with government acts and regulations, risks related to changes in tax legislation, and changes in the general political and economic environment. Investors and others are cautioned that the foregoing list of factors that may affect future results is not exhaustive and that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause Quebecor's actual results to differ from current expectations, please refer to Quebecor's public filings available at www.sedar.com and www.quebecor.com including, in particular, the "Risks and Uncertainties" section in Quebecor's Management Discussion and Analysis for the year ended December 31, 2011, and the "Item 3. Key Information - Risk Factors" as well as statements located elsewhere in Quebecor Media's annual report on Form 20-F for the year ended December 31, 2011.

The forward-looking statements in this press release reflect Quebecor's expectations as of October 11, 2012, and are subject to change after that date. Quebecor expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

About Quebecor and Quebecor Media

Quebecor Media Inc. is a subsidiary of Quebecor Inc. (TSX:QBR.A) (TSX:QBR.B), one of Canada's most important holding companies operating in the telecommunications and media businesses. With more than 16,000 employees, Quebecor Media Inc., through its subsidiary Videotron Ltd., is an integrated communications company engaged in cable television, interactive multimedia development, Internet access services, cable telephone services and mobile telephone services. Through Sun Media Corporation, Quebecor Media Inc. is the largest publisher of newspapers in Canada. It also operates Canoe.ca and its network of English and French language Internet properties in Canada. In the broadcasting sector, Quebecor Media Inc. operates, through TVA Group Inc., the number one French language general interest television network in Quebec, a number of specialty channels and the SUN News English language channel. Another subsidiary of Quebecor Media Inc., Nurun Inc., is a major interactive technologies and communications agency with offices in Canada, the United States, Europe and Asia. Quebecor Media Inc. is also active in magazine publishing (TVA Publishing Inc.), book publishing and distribution (Sogides Group Inc. and CEC Publishing Inc.), the production, distribution and retailing of cultural products (Archambault Group Inc. and TVA Films), video game development (BlooBuzz Studios Inc.), DVD, Blu-ray disc and videogame rental and retailing (Le SuperClub Videotron Ltd), the printing and distribution of regional newspapers and flyers (Quebecor Media Printing Inc. and Quebecor Media Network Inc.), news content production and distribution (QMI Agency), multiplatform advertising solutions (QMI Sales) and the publishing of printed and online directories, through Quebecor MediaPages(TM).

About Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2011, it held $159.0 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com.

Contacts: Sources: Quebecor and Quebecor Media Jean-Francois Pruneau Chief Financial Officer Quebecor Inc. and Quebecor Media Inc.jean-francois.pruneau@quebecor.com (514) 380-4144 Information: Martin Tremblay, Vice President, Public Affairs Quebecor Media Inc.martin.tremblay@quebecor.com (514) 380-1985 Contacts: Caisse de depot et placement du Quebec Maxime Chagnon Senior Director, Media Relations 514 847-5493mchagnon@lacaisse.com



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