On January 5, 2022, IGM Financial Inc. (“IGM”) subsidiary Mackenzie Financial Corporation (“Mackenzie”) announced that it is entering into a definitive agreement to acquire Power Corporation of Canada’s (“PCC”) 13.9% interest in China Asset Management Co., Ltd. (“ChinaAMC”) for cash consideration of C$1.15 billion.
The transaction will double Mackenzie’ interest in ChinaAMC to 27.8%. To partially fund the transaction, IGM will sell 15,200,662 common shares (“Lifeco Shares”) of Great-West Lifeco (“Lifeco”) to PCC for cash consideration of C$575 million.
Fasken acted for IGM Financial Inc. in connection with this agreement with a team comprised of Grant McGlaughlin, Gesta Abols, Chelsea Young and Christopher Steeves.
Jurisdiction
- Ontario
