On July 3, 2019, Fiera Capital Corporation ("Fiera Capital") (TSX: FSZ) and Integrated Asset Management Corp. ("IAM") (TSX: IAM) announced that Fiera Capital had completed its previously announced acquisition of IAM pursuant to a court-approved plan of arrangement under the Business Corporations Act (Ontario).
Pursuant to the transaction, Fiera Capital acquired all of the outstanding common shares of IAM for total consideration of approximately $74 million, representing total IAM enterprise value of $64 million and $10 million of adjusted cash.
As a result of the transaction, the IAM shares are expected to be delisted from the TSX and IAM will apply to cease to be a reporting issuer in every province of Canada in which it is a reporting issuer.
Gowling WLG advised Fiera Real Estate and IAM Real Estate Group , divisions of both the acquirer and the target respectively, with respect to this transaction with a team that included Robert Hull and Ed Johnston.
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