Each week, we provide an overview of insider transactions, investments in young local companies and news from listed companies.
Louis Vachon invests $ 140,000 in the brewer
The big boss of the National Bank, Louis Vachon, bought approximately $ 140,000 in shares of Molson Coors in mid-September. He acquired 3,000 shares at a unit price of US $ 35.28. Mr. Vachon has been a member of the Molson Coors Board of Directors since 2012. The value of his stake in the brewer now exceeds $ 1.2 million.
National Bank CEO loves Molson beer
A Quebecer at the head of a tobacco giant
Luc Jobin, who was shown the door of his position as CEO of Canadian National in 2018, will become chairman of the board of British American Tobacco (BAT) in the spring. He has been a director of BAT since 2017 and has served on the Hydro-Québec board since last year. BAT is the parent company of Montreal-based Imperial Tobacco.
A billionaire subsidiary for Power Corporation
Wealthsimple this week raised $ 114 million in investments that put the total value of the Toronto firm at $ 1.4 billion. Over the years, Power Corporation has invested $ 315 million in Wealthsimple to acquire a controlling stake which is now worth approximately $ 1 billion.
Bain Capital sells BRP for $ 151 million
The second largest shareholder of Bombardier Recreational Products (BRP), the Boston-based firm Bain Capital, will sell $ 150.9 million in shares in the Valcourt company. BRP shares recently hit a historic high on the stock market. After the transaction, Bain’s stake in BRP will decrease from 20.2% to 18%. BRP’s largest shareholder remains the Bombardier family.
SOVO SME sold to Americans
The SOVO Technologies firm, created by the Computer Research Center of Montreal, passed into the hands of the American VITAC. SOVO, which specializes in producing subtitles in a short period of time, employs more than 90 people. Its technology is used by many broadcasters, including some of the largest American television stations. VITAC is the largest provider of captioning services in the United States.