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SpatialNews Press Release
MDA'S Canadian ownership strengthened as Ontario Teachers'
Pension Plan makes major investment
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RICHMOND, BC, April 13 - MacDonald, Dettwiler and Associates Ltd.
(TSE: MDA) reports that Orbital Sciences Corporation of Dulles, Virginia has
agreed to sell 12.35 million of its 18 million shares in MDA to a group of
primarily Canadian institutional investors in a private transaction. The group
includes the Ontario Teachers' Pension Plan, the BC Investment Management
Corporation, and CAI Capital Partners and Company II, L.P.
It is anticipated that the transaction will be completed in early May
2001. This transaction will make MDA a more widely held Canadian public
company.
The share sale includes an option to buy the remaining Orbital holdings
in MDA by May 31st.
"This is a very positive development for our company," said MDA President
and CEO Daniel Friedmann. "It significantly increases MDA's Canadian
ownership, diversifies shareholdings, and will lead to increased liquidity."
Headquartered in British Columbia, MDA employs 1800 people around the
world, and provides essential information for decision making in the
workplace.
Related web sites:
www.mda.ca
www.orbital.com
www.otpp.com
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