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Implementation of a Sale and Investment Solicitation Process ("SISP") for certain assets of Groupe Sélection

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2 years ago

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MONTREAL, April 8, 2023 /CNW/ – PricewaterhouseCoopers Inc. (the “Monitor”) obtained an order from the Superior Court of Québec on March 24, 2023, approving the implementation of a Sale and Investment Solicitation Process (“SISP”) for certain assets of Groupe Sélection (the “Company”) through its advisor PricewaterhouseCoopers Corporate Finance LLC (the “SISP Advisor”).

Thus, under the SISP, the Monitor solicits bids for and on behalf of the Company for an investment or investments in, or the purchase of, some or all of the Company’s assets.  The purpose of the SISP is to generate interest in a restructuring of GS, or in the business or its assets, in order to maximize the return on GS’s assets and potentially lay the foundation for a plan of compromise or arrangement for all Group Sélection stakeholders.

The Company’s management has also prepared a recovery plan that it may be able to share with interested parties.

The SISP proceedings commenced on March 31, 2023, with the issuance of a solicitation letter to potentially interested parties. The deadline for submission of non-binding letters of intent by qualified bidders is April 28, 2023, with a target transaction closing date of no later than July 31, 2023. Interested parties wishing to obtain more information on the SISP procedures may visit the Monitor’s website: www.pwc.com/ca/groupeselection

For any information regarding the SISP, please contact the SISP Adviser to the attention of Frederic Bouchard (frederic.bouchard@pwc.com) or Eric Lemay (eric.lemay@pwc.com).

For any information regarding the CCAA process, please contact the Monitor, Mr. Christian Bourque (christian.bourque@pwc.com).

SOURCE PwC Management Services LP

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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3 weeks ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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4 weeks ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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4 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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