Genivar and WSP Group join forces
Genivar concurrently announces a $225 million public bought deal of subscription receipts, a $197 million private placement of subscription receipts and new credit facilities.
Genivar Inc. recently acquired all of the issued and outstanding shares of WSP Group PLC, a multi-disciplinary professional services consultancy based in London, U.K.
Pursuant to the Transaction, Genivar and WSP intend to create a professional services firm with approximately 14,500 employees in over 30 countries, with a strong presence in Canada, Northern Europe, U.K., and U.S.
Following the Transaction, Christopher Cole, the current Chief Executive of WSP, will become Executive Chairman of the Board of Directors of the corporation, while the current Chairman of the Board, Richard Bélanger will become the lead independent director and Pierre Shoiry will continue as the president and chief executive. +