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Leo de Bever, Chief Executive Officer at AIMCO (Alberta Investment Management Corporation) is photographed in Calgary, Alberta on Thursday, Jan. 17, 2013, at a media availability.
Leo de Bever, Chief Executive Officer at AIMCO (Alberta Investment Management Corporation) is photographed in Calgary, Alberta on Thursday, Jan. 17, 2013, at a media availability.
(Chris Bolin For The Globe and Mail)

AIMCo bails out of stake in Precision Drilling

Alberta Investment Management Corp. CEO Leo de Bever once bristled at accusations that the public sector pension fund’s investment in Precision Drilling Corp. was a politically motivated bailout.

On Thursday, Mr. de Bever showed he was in it for the reason he said at the time – to make money by rescuing an important market player that had wound up in a financial jam.