TELUS Corporation (TSX:T) acquires shares of Telus International

• TELUS (T) has announced that its indirect, wholly-owned subsidiary has signed a purchase agreement with an entity affiliated with BPEA
• The deal relates to the acquisition by TELUS of 3,000,000 multiple voting shares in the capital of TELUS International (Cda) from BPEA
• The company is acquiring the purchased shares for a purchase price of US$22.00 per purchased share, representing aggregate consideration of US$66,000,000
• After the acquisition, the shares held by TELUS will represent approximately 56.17 per cent of the outstanding shares of TELUS International
• TELUS is a communications technology company with customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security
• TELUS Corporation opened the day’s trading at $28.57 per share

TELUS Corporation’s (T) wholly-owned subsidiary has signed a purchase agreement with an entity affiliated with Baring Private Equity Asia (BPEA).

The agreement relates to the acquisition by TELUS of 3,000,000 multiple voting shares in the capital of TELUS International (Cda) Inc. from BPEA.

“Following thoughtful consideration, it is our strong belief that this represents an attractive opportunity to invest further in TELUS International,” explained 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 per cent of the outstanding multiple voting shares of TELUS International and approximately 1.1 per cent of all outstanding shares.

The company is acquiring the purchased shares for a purchase price of US$22.00 per purchased share, representing aggregate consideration of US$66,000,000.

Before executing 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 per cent of the outstanding multiple voting shares, 70.93 per cent of the outstanding voting rights attached to all shares of TELUS International and approximately 55.04 per cent of the total shares outstanding.

Upon completing the acquisition, TELUS will hold an aggregate of 149,504,019 multiple voting shares and no subordinate voting shares.

After acquisition, the shares held by TELUS will represent approximately 56.17 per cent of the outstanding shares of TELUS International, 74.78 per cent of the outstanding multiple voting shares of TELUS International and 72.38 per cent of the outstanding voting rights of TELUS International.

TELUS Corporation is a communications technology company with customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security.

TELUS Corporation opened the day’s trading at $28.57 per share.