Business
Canaccord Genuity Group Inc. Announces a Proposed Increase in the Ownership of its Australian Business
Canaccord Genuity Group Inc. Announces a Proposed Increase in the Ownership of its Austral...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces a Proposed Increase in the Ownership of its Australian Business\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 6, 2018\n\n\n\nAgreement positions the Company and its shareholders to capture a greater share of activity in the region and further strengthens alignment of partners and employees \n\n\n\nTORONTO, June 6, 2018 /CNW/ - Canaccord Genuity Group Inc. (\"Canaccord Genuity\", the \"Company\") is pleased to announce that it has entered a non-binding letter of intent to acquire an additional 30% of the shares in its Australian capital markets and wealth management business, Canaccord Genuity (Australia) Limited. This transaction has been sought by both parties and will increase the Company's ownership in Canaccord Genuity (Australia) to 80% from 50%. \n\n\n \n \n\n \n\"This investment provides a stronger foothold to explore opportunities to expand our wealth management businesses and increase contributions from our capital markets business in the region,\" said Dan Daviau, President and CEO of Canaccord Genuity Group Inc. \"Our Australian team is well integrated into our global platform and has delivered very promising growth in recent years. We look forward to continuing to support their development initiatives in the region.\" \n\n\"Since 2011 we have enjoyed a supportive and collaborative relationship with our partners across Canaccord Genuity and we are confident this additional investment will continue to add strategic value for our business and our clients,\" added Marcus Freeman, Chief Executive Officer of Canaccord Genuity (Australia) Limited. \"We will leverage this increased partnership and the extensive support that it brings to strengthen our position as a leading mid-market investment bank in Australia and provide a differentiated service offering for our capital markets and wealth management clients in Australia and the broader Asia-Pacific region.\"\n\nCanaccord Genuity in Australia and Asia-Pacific\n\n\nThe Company made its initial inve...