Fiera Capital completes acquisition of remaining interest in Fiera Properties
27 Dec, 2017, 17:56 ET
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
MONTRÉAL, Dec. 27, 2017 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Firm"), a leading independent asset management firm, today announced that it has completed its previously announced acquisition of the remaining 45% interests in Fiera Properties Limited ("Fiera Properties") it did not already own from the minority shareholders.
The aggregate consideration paid at closing in connection with the transaction amounted to $32 million. An amount of $31.5 million was paid in cash and an amount of $500,000 was paid by the issuance of 38,880 Class A subordinate voting shares of the Corporation at a price of $12.86 per share, corresponding to the five (5) day aggregate volume-weighted average per share price on the Toronto Stock Exchange for the period of five (5) days consecutive trading days ending on the last full trading day prior to the closing of the transaction.
About Fiera Properties Limited
Fiera Properties Limited is a leading Canadian real estate investment management firm with both institutional and private clients. The firm's C$1.9 billion of assets under management (as of September 30, 2017) is comprised of the Fiera Properties CORE Fund, the Fiera Properties GTA Opportunity Fund and its segregated accounts. Through direct investment in exceptional real estate across Canada, Fiera Properties offers strategies that produce stable, growing income and capital appreciation. Strategies are comprised of institutional-grade retail, office, industrial and multi-family properties. Core real estate is an attractive income-generating element of a multi-asset portfolio based on its investment characteristics and its ability to stabilize portfolio performance and protect against inflation. Opportunistic real estate offers higher-return, risk-managed strategies it grow investors' capital through the development of new properties, and value-enhancement of existing properties.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with more than C$123.0 billion in assets under management as at September 30, 2017. The Firm provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Clients and their portfolios derive benefit from Fiera Capital's depth of expertise, diversified offerings and outstanding service. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
In the U.S., asset management services are provided by the Firm's U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training.
Additional information about Fiera Capital Corporation, including the Firm's annual information form, is available on SEDAR at www.sedar.com.
SOURCE Fiera Capital Corporation
For further information: Daniel Richard, Vice President, Corporate Communications and Investor Relations, Fiera Capital Corporation, Tel: (514) 954-6456, [email protected]
Share this article