Fiera Capital announces closing of acquisition of the Canadian fixed income, Canadian equity and balanced account business of UBS Global Asset Management (Canada)
MONTREAL, Jan. 31, 2013 /CNW Telbec/ - Fiera Capital Corporation ("Fiera" or the "Firm") (TSX: FSZ) announced today the closing of the transaction under which Fiera acquires the Canadian fixed income, Canadian equity and domestic balanced account business from UBS Global Asset Management (Canada) Inc., representing assets under management of approximately $8 billion for a cash consideration of $52 million, subject to certain adjustments. This transaction, previously announced on December 11, 2012, is immediately accretive to earnings.
The transaction has been approved by regulatory authorities and has satisfied other customary conditions.
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly traded, independent investment firm. The Firm is one of only a handful of full service, multi-product investment firms in Canada, offering clients a proven top tier track record in equity and fixed income management as well as depth and expertise in asset allocation and alternative investments. www.fieracapital.com
Additional information relating to the Firm, including the Firm's annual information form, is on SEDAR at www.sedar.com.
About UBS Global Asset Management
UBS Global Asset Management, a business division of UBS, is a
large-scale asset manager with well-diversified businesses across
regions, capabilities and distribution channels. It offers investment
capabilities and investment styles across all major traditional and
alternative asset classes. These include equity, fixed income,
currency, hedge fund, real estate, infrastructure and private equity
investment capabilities that can also be combined in multi-asset
strategies. The Fund Services unit provides professional services
including legal fund set-up, accounting and reporting for traditional
investment funds and alternative funds.
SOURCE: FIERA CAPITAL CORPORATIONFor further information:
For Fiera Capital:
Mélanie Tardif, CPA, CMA
NATIONAL Public Relations
UBS Corporate Communications