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Groupe Bruxelles Lambert

October 10, 2013

Paul Desmarais, the patriarch of Canadian family empire Power Corp and one of the country’s wealthiest individuals, has died, aged 86.

Paul Desmarais, the patriarch of Canadian family empire Power Corp and one of the country’s wealthiest individuals, has died, aged 86.

A self-made billionaire, Desmarais, took control of the Montreal-based hydroelectric company in 1968, serving as chairman and chief executive for almost three decades, before his two sons took over.

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