Failing to find a trade buyer for its stake of about 25% in Toronto systems integrator SHL Systemhouse Inc, BCE Inc has decided to sell its 9.696m SHL shares in the market. It has retained Gordon Capital Corp to underwrite the sale at the equivalent of $6.67 a share for a total of $65m. The sales will be made from time to time up to the closing date of February 10 and will eliminate BCE’s investment in SHL, which it acquired inadvertantly when another company ran into financial difficulties. BCE was an investor in the firm that failed, which had held the SHL shares and pledged them to BCE as security.
