LOGISTEC Corporation has announced that its shareholders have approved the previously announced plan of arrangement under the provisions of the Québec Business Corporations Act involving LOGISTEC and 1443373 B.C. Unlimited Liability Company, an entity owned by certain funds managed by Blue Wolf Capital Partners LLC, with preferred equity financing provided by Stonepeak.

At the special meeting of shareholders of LOGISTEC held on December 18, the arrangement resolution was approved by 99.9% of the votes cast by shareholders present in person or represented by proxy and entitled to vote at the meeting.

LOGISTEC is also pleased to confirm the satisfaction of the closing condition set forth in the arrangement agreement between LOGISTEC and the Purchaser regarding the receipt of key regulatory approvals in connection with the proposed arrangement.

The proposed arrangement remains subject to certain customary closing conditions, including the issuance of a final order by the Superior Court of Québec following the hearing expected to take place on December 21, 2023. If the Court approval is obtained and the other conditions are satisfied or waived, it is anticipated that the arrangement will be completed by the parties in January 2024.

(Photo Logistec)