The Government of Saskatchewan has sold Information Services Corporation, or ISC, to a subsidiary of Plenary Americas, an investor and manager of public infrastructure projects headquartered in Vancouver.

The deal, which will generate $1.2 billion in total, will net the Province, the main shareholder, about $277 million prior to fees and closing costs.

Plenary will acquire all of the involved Class A Limited Voting Shares of ISC for the price of $51 each, and due to recent legislature that the Province passed this spring, it will be able to keep its Golden Share.

This allows the government to ensure that the Corporation’s property will remain in Saskatchewan. ISC is in charge of all things land titles and business filings.

The Province will need to appoint two directors.

During the legislative sitting, the Opposition NDP argued the proposed legislature and sale, as they believed it would further drive-up costs for land sales and real estate transactions.