SCHEDULE 13G/A: Private Equity Funds Disclose Significant Stake in TELUS International, Holding 39.05% of Subordinate Voting Shares
Beneficial Ownership Update
A group of private equity funds, including Riel B.V. and BPEA Private Equity Fund VI entities, have disclosed a combined beneficial ownership of 47,819,254 shares, representing 39.05% of TELUS International (Cda) Inc.'s Subordinate Voting Shares.
Summary
- Riel B.V. and a group of BPEA Private Equity Fund VI entities have filed an Amendment No. 3 to Schedule 13G, disclosing their beneficial ownership in TELUS International (Cda) Inc. (the "Issuer").
- The reporting persons collectively beneficially own 47,819,254 shares of TELUS International (Cda) Inc.
- This aggregate amount consists of 12,377,857 Multiple Voting Shares and 35,441,397 Subordinate Voting Shares.
- Multiple Voting Shares are convertible into Subordinate Voting Shares on a one-for-one basis at the option of Riel B.V. or automatically upon the occurrence of certain events.
- The beneficial ownership represents 39.05% of the Issuer's Subordinate Voting Shares, calculated based on 110,088,448 Subordinate Voting Shares outstanding as of March 21, 2024, plus the 12,377,857 convertible Multiple Voting Shares.
- Holders of Multiple Voting Shares are entitled to ten (10) votes per Multiple Voting Share, while holders of Subordinate Voting Shares are entitled to one (1) vote per Subordinate Voting Share.
- As of March 21, 2024, the reporting persons held 7.53% of the outstanding Multiple Voting Shares (out of 164,381,876 outstanding), which, when combined with their Subordinate Voting Shares, represents 9.08% of the Issuer's total combined voting power.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, providing neutral information without positive or negative operational or financial performance details.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: Provides transparency regarding significant beneficial ownership and voting power held by a group of private equity funds, which can influence corporate governance and strategic decisions.
Key Dates
| Date | Description |
|---|---|
| 02/17/2022 | Date of the initial Joint Filing Agreement among the Reporting Persons for the Schedule 13G. |
| 03/21/2024 | Date as of which 110,088,448 Subordinate Voting Shares and 164,381,876 Multiple Voting Shares were reported outstanding in the Issuer's Information Circular. |
| 04/15/2024 | Date the Issuer's Form 6-K, including the 2024 Information Circular, was filed with the Securities and Exchange Commission. |
| 12/31/2024 | Date of Event Which Requires Filing of this Statement. |
| 02/14/2025 | Date of signing the Schedule 13G Amendment No. 3 by the Reporting Persons. |
Keywords
TELUS International, Subordinate Voting Shares, Multiple Voting Shares, Schedule 13G, beneficial ownership, private equity, BPEA, Riel B.V., SEC filing, corporate governance, voting power
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