Montreal – LOGISTEC Corporation (TSX: LGT.A) (TSX: LGT.B) (“LOGISTEC” or the “Corporation”) today announced the completion of the previously-announced acquisition of LOGISTEC by 1443373 B.C. Unlimited Liability Company (the “Purchaser”), an entity owned by certain funds managed by Blue Wolf Capital Partners LLC, with preferred equity financing provided by Stonepeak, by way of a plan of arrangement under the provisions of the Business Corporations Act (Québec) (the “Arrangement”). Under the terms of the Arrangement, the Purchaser has acquired all of the issued and outstanding Class A Common Shares and Class B Subordinate Voting Shares of LOGISTEC (collectively, the “Shares”) for C$67.00 in cash per share.
Consideration for the purchased shares of LOGISTEC has been remitted by the Purchaser to Computershare Investor Services Inc., as depositary under the Arrangement, and will be paid to former shareholders of LOGISTEC as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or DRS Advice(s) representing shares formerly held by them).
As a result of the completion of the Arrangement, the Shares will be de-listed from the Toronto Stock Exchange shortly, and LOGISTEC will apply to cease to be a reporting issuer in all the provinces of Canada where it is currently a reporting issuer.
Following the completion of the Arrangement, the Purchaser has ownership and control, directly or indirectly, of 7,349,583 Class A Common Shares and 5,467,030 Class B Subordinate Voting Shares of LOGISTEC, representing collectively 100% of the issued and outstanding Shares. Prior to the completion of the Arrangement, the Purchaser did not own or control any securities of the Corporation. Certain information in this news release is provided by the Purchaser in satisfaction of the early warning requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids. The purpose of the Arrangement was to enable the Purchaser to acquire 100% of the issued and outstanding Shares. The Purchaser’s address is 745 Thurlow Street, Suite 2400, Vancouver, British Columbia, Canada, V6E 0C5. The Purchaser is incorporated under the laws of British Columbia. An early warning report in respect of the Arrangement will be filed on SEDAR+ (www.sedarplus.ca) under LOGISTEC’s issuer profile. For a copy of the report or for further information about the Purchaser, please contact Kate Spaziani at (212) 488-3674 or kate@bluewolfcapital.com.
As at the date hereof, Sumanic Investments Inc. (“Sumanic”) has disposed of all of the Shares owned or controlled by it pursuant to the Arrangement. Sumanic currently files early warning reports pursuant to the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues with respect to LOGISTEC.
(Photo of Logistec terminal at Hamilton)
