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Gerald Schwartz sells one million Onex shares, remains top shareholder

Onex chairman and CEO Gerald Schwartz speaks at the company's annual general meeting in Toronto on Thursday, May 10, 2012.

Nathan Denette/THE CANADIAN PRESS

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.

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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.

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