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.
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)
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