LGY Acquisition LP (the "Offeror") and Legacy Hotels Real Estate Investment Trust ("Legacy REIT") announced today that the Offeror has completed the take up and payment for the 118,116,109 trust units of Legacy REIT deposited to the Offeror's take-over bid.
The Caisse has become aware of an article, published today in a Montréal newspaper, that purports to state the amount of its investments in third-party asset-backed commercial paper (ABCP).
LGY Acquisition LP (the "Offeror") and Legacy Hotels Real Estate Investment Trust ("Legacy REIT") (TSX: LGY.UN) announced today that approximately 118.1 million trust units of Legacy REIT have been validly deposited to the Offeror's previously announced offer to acquire all Legacy REIT trust units not already owned by the Offeror for $12.60 cash per trust unit (the "Offer").
This release is being sent to all holders of third party asset-backed commercial paper (“Third Party ABCP”) on behalf of the Investor Committee overseeing the proposed restructuring process of the Third Party ABCP and chaired by Mr. Purdy Crawford.
Pierre Brunet, Chairman of the Caisse de dépôt et placement du Québec, is pleased with the Québec government’s appointments to the institution’s Board of Directors.
The institutional investors in third party asset-backed commercial paper (“Third Party ABCP”) who are Signatories to the August 16th announcement about a proposed solution to the liquidity problem
The Caisse de dépôt et placement du Québec announces that it has acquired, on the Toronto Stock Exchange, 111,000 common shares of Open Text Corporation (“Open Text”), or 0.22% of such shares outstanding, at an average price of $19.60 per share.
Legacy Hotels Real Estate Investment Trust (“Legacy” or the “Trust”) (TSX: LGY.UN), Cadbridge Investors LP (a limited partnership formed by Cadim, a division of the Caisse de dépôt et placement du Québec, and Westmont Hospitality Group, “Cadbridge”) and InnVest Real Estate Investment Trust (“InnVest”) (TSX: INN.UN) today announced that they have entered into a support agreement (the “Support Agreement”) pursuant to which LGY Acquisition LP (a limited partnership formed by Cadbridge and InnVest, the “Offeror”) has agreed to offer $12.60 in cash per unit (the “Offer”) to acquire all of Legacy’s outstanding units (including units issued upon the exchange of outstanding exchangeable shares or the exercise of options prior to completion of the Offer).
Trilogy Properties Corp, developer, manager and owner of the award-winning OPUS Hotel in Vancouver, announced today that it is
becoming the sole owner of the Hotel GODIN, one of Montreal's premiere boutique hotels.
