Telus Announces Agreement to Acquire Shares of Telus International
29 Juni 2022 - 12:00PM
TELUS Corporation (“
TELUS”) today announced that
its indirect, wholly-owned subsidiary has entered into a purchase
agreement with an entity affiliated with Baring Private Equity Asia
(“
BPEA”) relating to the
acquisition by TELUS of 3,000,000 multiple voting shares (the
“
Purchased Shares”) in the capital of TELUS
International (Cda) Inc. (“
TELUS International”)
from BPEA.
The purchase of the Purchased Shares is being
made pursuant to the private agreement exemption set forth in
section 4.2 of National Instrument 62-104.
“Following thoughtful consideration, it is our
strong belief that this represents an attractive opportunity to
invest further in TELUS International,” commented Darren Entwistle,
President and CEO of TELUS. “This share purchase is reflective of
our strong, ongoing confidence in the continued prospects and
robust profitable growth trajectory of the TELUS International
organization, and demonstrates our continued support for our TELUS
international team and their strategic objectives.”
The Purchased Shares represent approximately
1.5% of the outstanding multiple voting shares of TELUS
International and approximately 1.1% of all outstanding shares. The
Purchased Shares are being acquired for a purchase price of
US$22.00 per Purchased Share, representing aggregate consideration
of US$66,000,000.
Before giving effect to the purchase, TELUS held
an aggregate of 146,504,019 multiple voting shares of TELUS
International and no subordinate voting shares, representing
approximately 73.28% of the outstanding multiple voting shares,
70.93% of the outstanding voting rights attached to all shares of
TELUS International and approximately 55.04% of the total shares
outstanding. After giving effect to the purchase, TELUS will hold
an aggregate of 149,504,019 multiple voting shares and no
subordinate voting shares. Upon completion of the acquisition, the
shares held by TELUS will represent approximately 56.17% of the
outstanding shares of TELUS International, 74.78% of the
outstanding multiple voting shares of TELUS International and
72.38% of the outstanding voting rights of TELUS International.
TELUS purchased the Purchased Shares for
investment purposes and may or may not purchase or sell multiple
voting shares, subordinate voting shares or other securities of
TELUS International in the future on the open market or in private
transactions, depending on market conditions and other factors.
TELUS currently has no other plans or intentions that relate to its
investment in TELUS International. Depending on market conditions,
general economic and industry conditions, TELUS International’s
business and financial condition and/or other relevant factors,
TELUS may at any time develop other plans or intentions in the
future relating to one or more of the above items. A copy of the
early warning report to be filed by TELUS in connection with the
acquisition will be available on TELUS International’s profile on
SEDAR at www.sedar.com. Alternatively, you may contact Robert
Mitchell (TELUS Investor Relations) at 1-800-667-4871 in order to
obtain a copy of the report.
The headquarters and principal executive offices
of TELUS International are located at Floor 7, 510 West Georgia
Street, Vancouver, British Columbia, Canada V6B 0M3
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic,
world-leading communications technology company with $17 billion in
annual revenue and 17 million customer connections spanning
wireless, data, IP, voice, television, entertainment, video, and
security. Our social purpose is to leverage our global-leading
technology and compassion to drive social change and enable
remarkable human outcomes. Our longstanding commitment to putting
our customers first fuels every aspect of our business, making us a
distinct leader in customer service excellence and loyalty. 6 The
numerous, sustained accolades TELUS has earned over the years from
independent, industry-leading network insight firms showcase the
strength and speed of TELUS’ global-leading networks, reinforcing
our commitment to provide Canadians with access to superior
technology that connects us to the people, resources and
information that make our lives better.
TELUS Health is Canada’s leader in digital
health technology, improving access to health and wellness services
and revolutionizing the flow of health information across the
continuum of care. TELUS Agriculture provides innovative digital
solutions throughout the agriculture value chain, supporting better
food outcomes from improved agri-business data insights and
processes. TELUS International (TSX and NYSE: TIXT) is a leading
digital customer experience innovator that designs, builds, and
delivers next-generation solutions, including AI and content
moderation, for global and disruptive brands across high-growth
industry verticals, including tech and games, communications and
media and ecommerce and FinTech. TELUS and TELUS International
operate in 28 countries around the world.
Consistent with our community philosophy of "We
give where we live" and our commitment to connecting all citizens
to make the world a better place, TELUS team members, current and
retired, have donated more than $900 million and 1.8 million
volunteer days to the community since 2000. Their unprecedented
generosity and outstanding contributions have made TELUS the
world's largest corporate donor. Together, we're making the future
friendly.
For more information about TELUS, visit
telus.com and follow us on Twitter (@TELUSnews) and Instagram
(@Darren_Entwistle).
Investor Relations Robert
Mitchell (647) 837-1606 ir@telus.com
Media Relations Steve
Beisswanger (514) 865-2787 Steve.Beisswanger@telus.com
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