Netgraphe also will receive $10 million
Published:
8 March 2001 y., Thursday
Quebecor Inc., shedding the last of its Internet assets, said its Netgraphe Inc. unit has accepted a plan under which the subsidiary will absorb the Canoe Web sites. Netgraphe will also get $10 million and issue a 60.8-per-cent stake to Quebecor and its pension-fund partner, the Caisse de Depot et Placement du Quebec.
Quebecor owns 55 per cent of Quebecor Media Inc., which will hold the stake, valued at about $62 million, while the Caisse has 45 per cent.
The plan is the result of negotiations between Quebecor executives and an independent committee of Netgraphe directors, he said.
The transaction calls for Netgraphe to create two classes of stock - multiple-voting shares each carrying 10 votes, and subordinate-voting shares, with one each.
It is subject to a number of conditions, including approval by Netgraphe shareholders.
Netgraphe's stock has lost more than nine-10ths of its value in the past year. Montreal-based Netgraphe only has common shares now. Current shareholders will be offered a 10-per-cent premium if they choose to convert their common stock into subordinate-voting shares, the company said.
Šaltinis:
Bloomberg News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EU needs a strategy by 2011 to encourage the creation of green jobs, says a draft resolution by the Employment and Social Affairs Committee that was adopted on Wednesday.
more »
Householders should not have to go without gas due to a gas-supply crisis, and such crises should be better managed, thanks to EU-wide co-ordination procedures and interconnection requirements laid down in draft legislation agreed informally with the Council at the end of June and approved by the Industry Committee on Tuesday.
more »
Today the Council has taken the formal decision which will pave the way for the introduction of the euro in Estonia as of 1 January 2011 and will become the 17th European Union country to share the euro currency.
more »
Proposals to improve protection for bank account holders and retail investors, and set up similar schemes for insurance policies.
more »
How should the EU's farm policy be reshaped and how should it be funded after 2013?
more »
MEPs on Wednesday approved some of the strictest rules in the world on bankers' bonuses.
more »
Long before the financial crisis the European Parliament regularly pointed out the significant failures in the EU’s supervision of ever more integrated financial markets.
more »
New strategy for stimulating tourism in Europe – to realise the full potential of an industry that already plays an important role in the economy.
more »
The European Commission has disclosed who in 2009 received EU funds in policy areas like research, education and culture, energy and transport or external aid.
more »
The European Commission has approved 19 programmes in 14 Member States (Austria, Belgium, Czech Republic, Denmark, Germany, France, Greece, Italy, Ireland, the Netherlands, Poland, Slovenia, Spain and the United Kingdom) to provide information on and to promote agricultural products in the European Union.
more »