skip to main content

CDPQ increases stake in dairy company Saputo with $378M share purchase

The Caisse de dépôt et placement du Québec has increased its stake in dairy company Saputo Inc. Caisse president and CEO Charles Emond speaks during a press conference regarding results in Montreal, Wednesday, August 14, 2024. THE CANADIAN PRESS/Graham Hughes

By The Canadian Press

Posted Sep 30, 2024 11:14:58 AM.

Last Updated Sep 30, 2024 11:31:19 AM.

MONTREAL — The Caisse de dépôt et placement du Québec has increased its stake in dairy company Saputo Inc.

The Quebec investment manager says it has acquired 13.5 million shares at a price of $27.96 per share for a total of about $378 million.

CDPQ now owns 19,152,378 common shares of Saputo for a 4.51 per cent stake.

It acquired the shares as part of a sale of 40 million shares of the company by Francesco Saputo for general estate and succession planning.

A wholly-owned subsidiary of Jolina Capital Inc., Lino Saputo and other members of the Saputo family acquired the other 26.5 million shares.

Francesco Saputo still holds 2.5 million Saputo shares.

This report by The Canadian Press was first published Sept. 30, 2024.

Companies in this story: (TSX:SAP)

The Canadian Press

Submit a Correction

Accessibility Feedback

Top Stories

N.S. election: Major party leaders to speak at Halifax Chamber of Commerce event

N.S. election: Major party leaders to speak at Halifax Chamber of Commerce event

HALIFAX — The leaders of Nova Scotia's Progressive Conservative, NDP and Liberal parties will appear this morning at a discussion held by the Halifax Chamber of Commerce. Tim Houston, Claudia Chender...

4h ago

Tom Forrestall, beloved Nova Scotia artist and Atlantic realism pioneer, dies at 88

Tom Forrestall, beloved Nova Scotia artist and Atlantic realism pioneer, dies at 88

HALIFAX — Tom Forrestall, a celebrated Nova Scotia artist remembered for pioneering the Atlantic realism tradition, died at the age of 88 on Friday. Forrestall’s art won critical acclaim in the 1960s...

Canadians generally optimistic about human rights, despite challenges: poll

Canadians generally optimistic about human rights, despite challenges: poll

OTTAWA — Two-thirds of Canadians are optimistic about where human rights are headed in this country, but there is growing pessimism about the state of rights abroad, a new survey found. The Canadian...

4h ago

Mooseheads snap losing streak with 5-4 win over Foreurs

The Halifax Mooseheads snapped a five game losing streak on Sunday as they picked up a 5-4 win over the Val-d'Or Foreurs. Brady Schultz opened up the scoring in the opening minute of gameplay, puttin...

14h ago

Top Stories

N.S. election: Major party leaders to speak at Halifax Chamber of Commerce event

N.S. election: Major party leaders to speak at Halifax Chamber of Commerce event

HALIFAX — The leaders of Nova Scotia's Progressive Conservative, NDP and Liberal parties will appear this morning at a discussion held by the Halifax Chamber of Commerce. Tim Houston, Claudia Chender...

4h ago

Tom Forrestall, beloved Nova Scotia artist and Atlantic realism pioneer, dies at 88

Tom Forrestall, beloved Nova Scotia artist and Atlantic realism pioneer, dies at 88

HALIFAX — Tom Forrestall, a celebrated Nova Scotia artist remembered for pioneering the Atlantic realism tradition, died at the age of 88 on Friday. Forrestall’s art won critical acclaim in the 1960s...

Canadians generally optimistic about human rights, despite challenges: poll

Canadians generally optimistic about human rights, despite challenges: poll

OTTAWA — Two-thirds of Canadians are optimistic about where human rights are headed in this country, but there is growing pessimism about the state of rights abroad, a new survey found. The Canadian...

4h ago

Mooseheads snap losing streak with 5-4 win over Foreurs

The Halifax Mooseheads snapped a five game losing streak on Sunday as they picked up a 5-4 win over the Val-d'Or Foreurs. Brady Schultz opened up the scoring in the opening minute of gameplay, puttin...

14h ago

Most Watched Today

Businesses tap into Taylor Swift mania

Businesses tap into Taylor Swift mania

From hotels and restaurants to animal shelters and gyms, Toronto businesses are aligning themselves with the historic Eras Tour. Michelle Mackey reports on the Swiftie brand takeover.

Trudeau promotes Canadian nuclear reactors at APEC summit

Trudeau promotes Canadian nuclear reactors at APEC summit

Prime Minister Justin Trudeau is using meetings with Asia-Pacific leaders in Peru to promote Canadian nuclear reactors while the spectre of a second Donald Trump presidency looms over the APEC summit. Glen McGregor reports.

Hezbollah media chief reportedly killed in Israeli strike on Beirut

Hezbollah media chief reportedly killed in Israeli strike on Beirut

Lebanese security sources say Hezbollah's media chief has been killed in an Israeli strike on Beirut's southern suburbs. This, coming as Israel continues to pound Lebanon and the Gaza Strip. Karling Donoghue reports.

6h ago

Russia pummels Ukraine's energy infrastructure in the largest attack in months

Russia pummels Ukraine's energy infrastructure in the largest attack in months

Russia has launched it's largest air strike on Ukraine in more than three months, targeting energy infrastructure across the country. Karling Donoghue takes a look at how officials are responding as the country enters the winter season.

6h ago

North India hospital fire leaves 10 newborn babies dead

North India hospital fire leaves 10 newborn babies dead

10 newborn babies are dead, and 16 others are injured after a fire broke out inside a hospital in northern India, and quickly spread into the NICU. Karling Donoghue details the response from the community and authorities in Uttar Pradesh.