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Client Work

Western Financial Group and Bank West acquire AgriFinancial Canada

Fasken
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Overview

Client

Western Financial Group

On February 2, 2009, Western Financial Group Inc. (TSX-WES) and its subsidiary, Bank West, announced the completion of the acquisition of AgriFinancial Canada Corp. from C.A. Bancorp Inc. (TSX-BKP) and Sentry Select Total Strategy Fund (TSX-TSF.UN). AgriFinancial is a leading lender specializing in agribusinesses in Western Canada, including more than 25,000 farmers who carry AgriFinancial's AgriCard - a specialty credit card accepted by more than 750 dealers and merchants. AgriFinancial is now an operating unit within Bank West. The acquisition adds an additional $85 million in profitable loan assets to Bank West's portfolio.Bank West is part of Western Financial Group, a leader in providing insurance, financial services and banking services in over 90 communities, to more than 450,000 individuals and businesses in Western Canada through its WFG Agency Network locations, its affiliated insurance brokers, Western Life Assurance Company and Bank West.Western Financial Group was advised in this transaction by a team from Fasken Martineau that included Alfred Apps, Stephen Kerr and Wojtek Baraniak (corporate), Robert Elliott (regulatory), Lisa Abe and John Beardwood (information technology), Doug New and Mark Magro (competition), Ross Gascho (pensions), Aaron Stefan (banking), and Mitchell Thaw and Ronald Nobrega (tax), with the assistance of student-at-law Louise Kennedy.

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