Desjardins Group Pension Plan, Quebec City, is increasing its stake in real estate developer Ivanhoe Cambridge by C$145 million (US$145.5 million), making it a main co-shareholder with Ivanhoe’s parent, Caisse de Depot et Placement du Quebec, according to a Caisse news release.
After the deal, the percentage of Ivanhoe Cambridge held by the C$6 billion Desjardins plan will be 3%, said Sylvain Gareau, the plan’s vice president.
The C$151.7 billion Caisse will hold 94% of the firm, Cassie spokesman Maxime Chagnon said. The size of Caisse’s previous stake could not be learned.
