The Caisse de dépôt et placement du Québec has sold 2,061,000 common shares of Canadian consultancy WSP Global Inc.
CDPQ’s shares represent approximately 1.6% of WSP’s issued and outstanding common shares as of April 23, 2025. The pension fund’s shares will be sold at a gross price per share of C$242.70 ($175.40 USD) in a block trade underwritten by BMO Capital Markets and National Bank Financial Inc.
The pension fund noted the transaction is part of its periodic rebalancing; however, CDPQ is expected to garner gross cash proceeds of approximately C$500M ($362.35 USD) from this transaction. Once completed, CDPQ will still hold roughly 14.2% of WSP Global’s issued and outstanding common shares.
“Since 2011, CDPQ has played a key role in supporting WSP Global through eight major acquisitions, propelling the company into a global leader in its sector,” said Kim Thomassin, the fund’s executive vice-president and head of Quebec, in a press release. “CDPQ is now seeking to monetize part of its investment while remaining a principal shareholder. This capital may be reinvested in Québec companies, including WSP Global, to support and accelerate the growth of local companies.”
Earlier this year, CDPQ announced it was launching a new program designed to back Quebec companies seeking to launch projects that help increase productivity or to strategically expand pathways to new markets. The program was a direct response to the looming threat of tariffs by the Trump Administration.
“We must take the current context as a call to action and use it to mobilize like never before,” said Charles Emond, CDPQ’s president and chief executive officer, in a press release. “Whether or not the tariffs materialize, it’s time to leverage all the know-how of our companies to drive Quebec forward. CDPQ will be there to finance productivity-boosting projects and help companies diversify their markets.”
