Jan. 15, 2020 - The official Annual Report under the Investment Canada Act (ICA) for the fiscal year 2018-19 was released at the end of 2019. This document sets out various statistics and other noteworthy developments during that time frame (i.e., April 1, 2018 to March 31, 2019) relating to the two review...
Sentry Investments Corp. Selling All Outstanding Shares to CI Financial Corp.
Davies represented Sentry Investments Corp. (Sentry), one of Canada’s leading independent investment managers, in its $780-million acquisition by CI Financial Corp.
The acquisition combined two of Canada’s largest independent active asset managers and increased CI’s assets under management by 16% to approximately $140 billion when it acquired all of the outstanding shares of Sentry and its subsidiary Sentry Investments Inc.
In exchange, $780 million was payable to Sentry – $230 million in cash and the balance in CI shares.
Dec. 23, 2019 - In his own version of the pre-holiday rush, the Canadian Commissioner of Competition has in the last several days challenged one merger transaction and entered into a consent agreement to preserve assets pending his review of another. The Commissioner’s latest actions reflect and reinforce the...