Mar. 27, 2024 - Substantial amendments to the Investment Canada Act (ICA) were enacted on March 22, 2024, with the passing of Bill C-34, the National Security Review of Investments Modernization Act. These amendments, long in the works, will come into effect on a date to be fixed by Cabinet. It...
Announcement
Wattpad Completes Acquisition by Naver
Davies advised global multi-platform entertainment company Wattpad Corp. in its acquisition by South Korean Internet company Naver Corporation, home of digital comics platform WEBTOON, in a cash and stock transaction valued at more than an estimated US$600 million.
The acquisition will fuel the continued growth and success of Wattpad, which will remain headquartered in Canada, by aligning Wattpad and WEBTOON and creating a leading global multimedia entertainment company with a combined user base of over 160 million monthly users.
Involving a broad base of shareholders, the transaction required significant expertise and cross-border collaboration. The Davies team advising on the deal was led by Richard Cherney, Brian Kujavsky, Fotini Gagaoudakis and Elisa Kearney; and assisted by Marie-Emmanuelle Vaillancourt, Antoine Le Bihan, Tyson Lowrie, Dajena Pechersky and Rachel Park.
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Mar. 13, 2024 - The Canadian government recently issued two policy statements (IDM Statements) affirming that it will enhance its scrutiny under the Investment Canada Act (ICA) of foreign investments in the Canadian Interactive Digital Media (IDM) sector. One of the statements sets out the...
