By Colin Kellaher
CGI Inc. on Friday said it plans to buy back about 4.2 million Class A subordinate voting shares at C$95.13 apiece from Caisse de depot et placement du Quebec.
The purchase price represents a roughly 3% discount to Thursday's closing price of C$98.07 on the Toronto Stock Exchange for shares of the Montreal provider of information-technology and consulting services.
CGI said the transaction is related to a periodic portfolio rebalancing at Montreal-based CDPQ, one of Canada's biggest pension funds.
CDPQ will still hold about 27.2 million CGI shares, or a roughly 10.9% stake.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
02-19-21 0709ET