Canadian public pension fund company Caisse de dépôt et placement du Québec (CDPQ) plans to invest $400 million in U.S.-based security services company Allied Universal, part of French investment firm Wendel SE.

As part of the investment, CDPQ intends to acquire 40 percent stake in Allied Universal from Wendel for about $350 million in cash proceeds.

After the deal, CDPQ will become the largest shareholder in Allied Universal and 18 percent will be held by Wendel.

The transaction, valuing Allied Universal at about $7 billion, will be completed in the third quarter of 2019.