NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Jan. 11, 2012 /CNW/ - Today, Claymore Investments, Inc. ("Claymore Canada"), manager of the Claymore family of ETFs and closed-end funds, announced that BlackRock, Inc. has entered into a definitive agreement with subsidiaries of Guggenheim Partners, LLC ("Guggenheim") to acquire all of Guggenheim's interest in Claymore Canada. Upon closing, the transaction will augment BlackRock's world-class roster of investment fund products and deepen the BlackRock's footprint in Canada.
"We started Claymore Investments with the idea of truly driving change and improvement in Canada, and I am proud of the impact we have had on the Canadian investment landscape," said Som Seif, President and CEO of Claymore. "Advisors and investors have embraced our products as valuable components of their investment portfolios and we believe inclusion in the iShares family is sure to increase their popularity."
"Our investment in Claymore Investments embodies Guggenheim's philosophy of supporting industry innovators and preeminent investment managers," said Todd Boehly, president of Guggenheim Partners. "We couldn't be more pleased with the result of our partnership with Som and his team in Canada."
"This transaction brings together two innovative investment fund providers and creates an unparalleled opportunity to serve our Canadian clients," said Bill Chinery, head of BlackRock Canada. "Claymore Canada brings a complementary set of ETFs to the world-class iShares® range of products and enhances our ability to compete against other investment fund providers in Canada."
"This combination of two great businesses will set a new standard for service delivery and product offerings in Canada," said Mary Anne Wiley, head of iShares Canada, BlackRock. "Without question this will enhance our ability to deliver excellence in innovation, quality and choice - attributes for which our iShares brand is known around the globe."
At December 31, 2011, BlackRock offered 48 ETFs in Canada under the iShares® brand, representing C$29.0 billion in assets under management ("AUM") and Claymore Canada offered 34 ETFs and two closed-end funds representing C$6.9 billion in AUM.
The transaction is subject to regulatory and other approvals, including the approval of securityholders (the "Securityholders") of each of the Claymore Canada ETFs and closed-end funds. Claymore Canada will call and hold a combined special meeting of Securityholders to consider the transaction. The special meeting is expected to be held in late February or early March 2012. An information circular relating to the transaction will be mailed to Securityholders in advance of the special meeting. If approved by Securityholders, and assuming satisfaction of all other approvals and conditions, the transaction is expected to close by the end of the first quarter of 2012.
About Claymore Investments, Inc.
Claymore Investments, Inc. is a Canadian leader in bringing intelligent, low cost exchange-traded funds in Canada through its family of 34 ETFs and 2 closed-end funds across broad asset classes including core equity, global sectors, fixed income and commodities with $6.9 billion in assets under management as of December 31, 2011. Claymore Investments, Inc. is a subsidiary of Guggenheim Funds Services Group, Inc., a financial services and asset management company based in the Chicago, Illinois area and an indirect subsidiary of Guggenheim Partners, LLC, a global, diversified financial services firm with more than $125 billion in assets under supervision.
For further information about any of the Claymore ETFs or Claymore Investments, Inc., please visit our website at www.claymoreinvestments.ca.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2011, BlackRock's AUM was $3.345 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of September 30, 2011, the firm has approximately 10,200 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia, and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.
About Guggenheim Partners
Guggenheim Partners is a privately held global financial services firm with more than $125 billion in assets under management. The firm provides asset management, investment banking and capital markets services, insurance, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients throughout North America, Europe and Asia from more than 25 offices in 10 countries. For more information, please visit www.guggenheimpartners.com.
For further information:
For media inquiries, please contact:
Claymore Investments, Inc. Dan Rubin