Avarga Boosts Stake in Taiga Building Products to 74.2% with $10.1 Million Share Buy
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Taiga Building Products on Monday said Avarga , through its Avarga Canada unit, agreed to buy nearly 2.4-million shares of the company in a private transaction at C$4.20 per share, for a total of about C$10.1 million. The deal was made under the private agreement exemption in Canadian securities rules. Before the transaction, Avarga already held about 72% of Taiga's shares. After the purchase, it will control roughly 74.2%, the company said. Taiga shares closed down $0.05 to $3.69 on the Toronto Stock Exchange.
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