Date Closed

June 7, 2021

Lead Office

Montréal

Value

1.14 Billion CAD

On June 7, 2021, Caisse de dépôt et placement du Québec ("CDPQ") announced an increase in its majority interest in Énergir through the acquisition of Enbridge’s 38.9% stake in Noverco Inc. by Trencap L.P. which transaction closed on December 30, 2021 following regulatory approvals. Following the C$1.141 billion transaction led by CDPQ, Trencap now own 100% of Noverco, which owns 100% of Énergir. CDPQ currently owns 64.74% of Trencap, alongside minority limited partners, including the Fonds de solidarité FTQ.

Caisse de depot et placement du Quebec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt.

Énergir Inc. is a diversified energy production company based in Montreal with assets in natural gas, wind, solar and LNG.

McCarthy Tétrault advised Caisse de dépôt et placement du Québec with a team led by Patrick Boucher that includes Louis-Nicolas Boulanger, Mathieu Dubord, Richard O'Doherty and Isabelle Nazon (Business), Dominic Thérien (Competition), Fred Purkey and Marie-Soleil Landry (Tax).