Sportscene Group Inc.’s $51.25 Million Privatization

Fasken Martineau DuMoulin LLP acted as legal counsel to the Corporation. BCF Business Law LLP assisted the Offerors. PwC acted as financial adviser and Stikeman Elliott LLP as legal counsel to the special committee.

Sportscene Group Inc. (TSX:SPS.A) had entered into a final combination agreement pursuant to which Jean Bédard, the President and Chief Executive Officer of Sportscene, and a consortium of Québec investors led by Champlain Financial Corporation will acquire, through a newly incorporated corporation, all of the issued and outstanding Class A shares of Sportscene, except for 1,715,288 Shares held, directly or indirectly, by Jean Bédard, for a cash consideration of $7.25 per Share. 

Under the terms of the Transaction, Sportscene will therefore become a private corporation for a total consideration of approximately 51.25 million dollars, excluding the value of certain Shares and the options of the Corporation held by Jean Bédard and his affiliated entity, and the Shares will cease to be listed on the TSX Venture Exchange (the “TSX-V”).

Groupe Sportscene is a pioneer and leader in the Québec restaurant industry, operating the La Cage – Brasserie Sportive restaurant network since 1984. Sportscene continues to diversify its restaurant offering, notably by operating an Asian cuisine restaurant, P.F. Chang’s.

Champlain is a Canadian private holding company that has been based in Montreal since 2004.

The BCF team was led by Mario Charpentier (Picture), Gilles Seguin and Jean-Christophe Imbeau (Corporate Finance and Securities, supported by Mireille Fontaine, Vincent Garibaldi, Thomas Champagne, Laurence Babin and Pascal Gagnon (Corporate Finance and Securities), Anne-Frédérique Bourret, Eleonora Eusepi, Caroline Emond and Alessia Talarico (Environmental and Real Estate), Kevin Vincelette and Stefania Fratianni (Labour) and Mehrez Houacine (Tax).

Involved fees earner: Anne-Frédérique Bourret – BCF Avocats d’affaires; Mario Charpentier – BCF Avocats d’affaires; Caroline Emond – BCF Avocats d’affaires; Eleonora Eusepi – BCF Avocats d’affaires; Mireille Fontaine – BCF Avocats d’affaires; Stefania Fratianni – BCF Avocats d’affaires; Vincent Garibaldi – BCF Avocats d’affaires; Mehrez Houacine – BCF Avocats d’affaires; Jean-Christophe Imbeau – BCF Avocats d’affaires; Gilles Seguin – BCF Avocats d’affaires; Kevin Vincelette – BCF Avocats d’affaires;

Law Firms: BCF Avocats d’affaires;

Clients: Bédard Jean; Champlain Financial Corporation;

Sonia Carcano

Author: Sonia Carcano