Gerald Schwartz sells one million shares of Onex, remains top shareholder

TORONTO – Gerald Schwartz has sold one million shares of Onex Corp. (TSX:OCX) for a total of $56.5 million but remains the investment company’s largest shareholder.

Onex is a broadly diversified Toronto-based company that has direct and indirect investments in dozens of companies including Celestica Inc. (TSX:CLS).

Schwartz continues to own about 20.1 million Onex subordinate voting shares — about 17.8 per cent of the total.

He announced the private transaction late Monday. The shares were sold through New PCo Investments Ltd., a company controlled by Schwartz, for $56.50 per share.

The stock hit a record high of $58.50 on Nov. 18. Onex shares have been publicly traded since Jan. 12, 1995, when they opened at $13.13.