LEVIS, QC, Dec. 10 /CNW Telbec/ - Desjardins Group is favourable to the
combination of Montréal Exchange and Group TSX to create a new business called
TMX Group. Given the world merger movement in the exchange sector, Desjardins'
view is that this agreement between these two Canadian exchanges was necessary
to maintain and strengthen their national and international positioning.
"Thanks to this agreement, Québec will expand its influence in a sector
that is growing fast at the international level, stated Alban D'Amours,
President and Chief Executive Officer of Desjardins Group. Besides securing a
select place for the Montréal Exchange in the Canadian exchange market and
favouring the maintenance of a unique expertise and high value added jobs in
Montréal, this agreement also ensures adequate Québec representation at the
new exchange board of directors."
Furthermore, this transaction reinforces the Montréal exchange's position
on the Canadian derivatives market and gives it the exclusive rights to
negotiating carbon credits and other offsets in the country.
Desjardins is proud to have contributed to the achievement of this major
transaction. Throughout the whole process, its Desjardins Securities
subsidiary had been called to serve as an expert advisor for TSX Group and
now, Caisse centrale Desjardins will act as co-subscriber and co-agent for the
financing required as part of this transaction, therefore showcasing the
integrated expertise that Desjardins can offer to businesses.
About Desjardins Group
Desjardins Group is the largest integrated cooperative financial group in
Canada, with overall assets of $147 billion, as at September 30, 2007. It
comprises a network of caisses, credit unions and business centres in Québec
and Ontario, and some twenty subsidiary companies in life and general
insurance, securities brokerage, venture capital and asset management, many of
which are active across the country. Drawing on the expertise of its 40,000
employees and the commitment of nearly 6,800 elected officers, Desjardins
offers its 5.8 million individual and corporate members and clients a full
range of financial products and services. Its physical distribution network is
complemented by leading-edge virtual access methods. To find out more, consult
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