Onex Selling 11M Shares of Celestica

(Reuters) – Private equity firm Onex Corp will sell 11 million subordinate voting shares in contract electronics manufacturer Celestica Inc (CLS.TO) for C$113.3 million, the company said.

Onex will sell the Celestica shares for C$10.30 a share to a group of underwriters led by CIBC World Markets in a secondary bought deal offering, Onex and Celestica said in a statement.

On completion of the offering, Onex will own about 18.9 million multiple voting shares of Celestica, representing 8 percent economic interest and about 69 percent voting control, they said.

The offering is expected to close on or about Oct. 14.

Celestica shares closed at C$10.53 Monday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Unnikrishnan Nair)