The Co-Operators Group has completed its purchase of investment management firm Addenda Capital for $306.5 million.
The completion follows the approval of the amalgamation by the shareholders of Addenda at a special shareholders meeting last week.
The common shares of Addenda are being delisted from the Toronto Stock Exchange at the close of business on Wednesday.
Soon after deal is completed, the business of Co-Operators Investment Counselling Limited, a wholly owned subsidiary of The Co-Operators, will be combined with that of Addenda.
The combined entity, which will retain the Addenda name, will have offices in Montreal, Toronto, Guelph and Regina, and manage approximately $40 billion in assets.
To read Co-Operators Buying Addenda, click here.
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