Cable / Telecom News

Cogeco majority shareholder to sell block of shares


MONTREAL — Cogeco announced Tuesday its majority shareholder, Gestion Audem Inc., has entered into an agreement to sell a block of subordinate voting shares on a private placement basis. Gestion Audem is the Audet family holding company, which owns majority control of Cogeco’s voting shares. In connection with the sale of 288,183 subordinate voting shares, Gestion Audem will convert 210,643 multiple voting shares into subordinate voting shares, the news release says. The transaction does not alter the control of Cogeco since, upon completion of the transaction, Gestion Audem will retain control of Cogeco and ownership over 1,599,017 multiple voting shares,...