Mediagrif Interactive Technologies Inc. (“Mediagrif”) entered into a definitive agreement with Yellow Media Inc. (“Yellow Media”) and LesPAC Inc. (“LesPAC”), through which Mediagrif has acquired substantially all the assets of LesPAC, for a total cash consideration of $72.5 million. LesPAC.com was created in 1996 and operates a web site of classified ads in the generalist category.
The acquisition was financed through Mediagrif's $25 million cash on hand and committed term debt financing of $40 million. Mediagrif has also put in place a revolving credit facility of $20 million.
The transaction was expected to be immediately accretive to Mediagrif's net earnings. National Bank Financial Inc. acted as exclusive financial advisor to Mediagrif and as lead arranger on the debt financing in a syndicate also including The Bank of Nova Scotia.
CIBC World Markets Inc. acted as financial advisor to Yellow Media.
Mediagrif's was represented in-house by a team led by Hélène Hallak, Senior Vice President and General Counsel. Norton Rose OR LLP acted as counsel to Mediagrif, with a team that included David Millette and Laurence Smith-Lauzon (corporate/M&A); Robert Borduas, Alain Ricard and Sandro Muzzo (banking); Thierry Dorval (competition); Derek Chiasson and Sébastien Gingras (tax); George Locke (intellectual property) and François Côté (employment).
Yellow Media and LesPAC were represented in-house by a team that included Marie-Josée Lapierre, Director, Legal Affairs and Gabrielle Dorais, Legal Counsel. Stikeman Elliott LLP acted as counsel to Yellow Media and LesPAC, with a team that included André Roy, John Leopold, Peter Castiel, Claire Zikovsky, Isabelle Lamy, Amy Chao and Laurence L'Abbé (corporate/M&A); Luc Bernier and Éric Lévesque (tax); Jonathan Auerbach (intellectual property); Shawn Neylan (competition); Hélène Bussières (employment) and Michel Legendre (benefits).
The acquisition was financed through Mediagrif's $25 million cash on hand and committed term debt financing of $40 million. Mediagrif has also put in place a revolving credit facility of $20 million.
The transaction was expected to be immediately accretive to Mediagrif's net earnings. National Bank Financial Inc. acted as exclusive financial advisor to Mediagrif and as lead arranger on the debt financing in a syndicate also including The Bank of Nova Scotia.
CIBC World Markets Inc. acted as financial advisor to Yellow Media.
Mediagrif's was represented in-house by a team led by Hélène Hallak, Senior Vice President and General Counsel. Norton Rose OR LLP acted as counsel to Mediagrif, with a team that included David Millette and Laurence Smith-Lauzon (corporate/M&A); Robert Borduas, Alain Ricard and Sandro Muzzo (banking); Thierry Dorval (competition); Derek Chiasson and Sébastien Gingras (tax); George Locke (intellectual property) and François Côté (employment).
Yellow Media and LesPAC were represented in-house by a team that included Marie-Josée Lapierre, Director, Legal Affairs and Gabrielle Dorais, Legal Counsel. Stikeman Elliott LLP acted as counsel to Yellow Media and LesPAC, with a team that included André Roy, John Leopold, Peter Castiel, Claire Zikovsky, Isabelle Lamy, Amy Chao and Laurence L'Abbé (corporate/M&A); Luc Bernier and Éric Lévesque (tax); Jonathan Auerbach (intellectual property); Shawn Neylan (competition); Hélène Bussières (employment) and Michel Legendre (benefits).
Lawyer(s)
Alain Ricard
Laurence L'Abbé
Thierry Dorval
André J. Roy
Hélène Hallak
Luc Bernier
Jonathan N. Auerbach
Robert G. Borduas
Michel Legendre
Sébastien Gingras
Laurence Smith-Lauzon
Isabelle Lamy
Peter Castiel
Shawn C.D. Neylan
David Millette
Marie-Josée Lapierre
George R. Locke
Claire Zikovsky
Amy Chao
John W. Leopold