VANCOUVER — Telus Corporation announced today it has acquired 3 million multiple voting shares in the capital of Telus International Inc. from Baring Private Equity Asia (BPEA).
The share acquisition in Telus International, which is a publicly traded company, was made in a private agreement with an entity affiliated with BPEA, according to a press release.
The purchased shares are being acquired for a price of US$22 per share, representing an aggregate consideration of US$66 million. They represent approximately 1.5% of the outstanding multiple voting shares of Telus International and approximately 1.1% of all outstanding shares, the release says.
Upon completion of the share acquisition, Telus will hold about 74.78% of the outstanding multiple voting shares of Telus International, 72.38% of the outstanding voting rights and 56.17% of the total outstanding shares.
“Following thoughtful consideration, it is our strong belief that this represents an attractive opportunity to invest further in Telus International,” said Darren Entwistle, president and CEO of Telus, in the release.
“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.”
