BRP’s largest shareholder sells $182 million worth of shares in the Valcourt-based recreational vehicle manufacturer.
Bain Capital sells a block of two million shares at a unit price of $91.
The transaction is carried out under an agreement concluded with the broker RBC Capital Markets which will subsequently distribute the shares. The transaction is expected to close before the end of the week.
BRP shares closed the first session of the week up 2% at $94.55 in Toronto.
The stock had briefly slipped below the $80 mark in early December after BRP management revised downward certain financial targets at the end of November in the face of slowing demand in the current economic context.