CGI Group Closes Logica Acquisition For C$2.7 Bln - Quick Facts

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8/20/2012 9:21 AM ET

CGI Group Inc. (GIB: Quote,GIB-A.TO: Quote) said it has completed its acquisition of Logica plc (LOG.L) for 105 pence per ordinary share for a total purchase price of 1.7 billion pounds, or C$2.7 billion, plus the assumption of Logica's net debt of 322 million pounds, or C$499 million, based on Logica's December 31, 2011 financial statements.

The cash acquisition of all the issued and to be issued ordinary shares of Logica was effected by means of Court sanctioned scheme of arrangement in the UK. Logica shareholders had voted 99.54% in favour of CGI's offer at a general shareholders meeting held in London on July 16, 2012.

The company also announced its new global operations organization and the appointment of leaders, each reporting to Michael Roach, President and CEO of CGI, effective immediately.

CGI named Joao Baptista President, Nordics, Southern Europe and South America and Serge Dubrana President, Central and Eastern Europe. Tim Gregory was appointed as President, United Kingdom and Colin Holgate was named President, Asia Pacific (including Australia, India, Philippines and the Middle East.

Further, the company appointed Jean-Marc Lazzari as President, France (including Luxembourg and Morocco), Doug McCuaig as President, Canada and George Schindler as President, United States.

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