Saputo completes C$659 million offering of common shares

Date Closed

September 11, 2019

Lead Office

Montréal

Value

659.00 Million CAD

On September 11, 2019, Saputo Inc. ("Saputo") completed its previously announced public offering of common shares and concurrent private placement of common shares for aggregate gross proceeds of approximately $659 million. The offering was conducted by a syndicate of underwriters who purchased, on a bought deal basis, 11,617,300 common shares of Saputo, including 1,515,300 common shares pursuant to the exercise in full of the over-allotment option granted to the underwriters, from treasury at a price of $39.60 per common share. Saputo also completed the concurrent private placement whereby each of its two principal shareholders, Jolina Capital Inc. and Placements Italcan Inc., acquired, on a private placement basis, beneficial ownership of, and control or direction over 2,525,253 and 2,500,000 common shares of Saputo, respectively.

The syndicate of underwriters was co-led by National Bank Financial Inc. and BMO Capital Markets and included CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., RBC Dominion Securities Inc., Desjardins Securities Inc. and Merrill Lynch Canada Inc.

McCarthy Tétrault LLP advised  the syndicate of underwriters with a team led by Clemens Mayr that included Patrick Boucher, Konstantin Sobolevski and Vincent Laurin.

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