The Caisse de dépôt et placement du Québec plans to sell its interest in DWM to Dundee Wealth Management.
It currently owns 16% of DWM, a private company that holds all of the assets of Dundee Wealth, while Dundee owns the rest.
Dundee says it hasn’t been able to achieve an equitable settlement so that the Caisse could continue as a 16% shareholder upon the proposed amalgamation of Dundee and DWM.
Last month, in accordance with an agreement relating to DWM, the Caisse exercised the right to have its minority interest purchased at fair market value.
The Caisse and Dundee have appointed Genuity Capital and GMP Securities, respectively, to determine the value of the DWM stake.
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