Business
Fiera Capital Senior Management Acquires Shares from Desjardins in a C$53 Million Transaction
Fiera Capital Senior Management Acquires Shares from Desjardins in a C$53 Million Transaction ...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n \n \n \n Fiera Capital Senior Management Acquires Shares from Desjardins in a C$53 Million Transaction\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n June 21, 2024\n \n \n /CNW/ - Fiera Capital Corporation (TSX: FSZ) (\"Fiera Capital\" or the \"Company\"), a leading independent asset management firm, is pleased to announce that the Company's senior management and a number of its board members have acquired all units of Fiera Capital L.P. (\"Fiera LP\") and all shares of Fiera Holdings Inc. (\"Fiera Holdings\") previously held by Desjardins Financial Holding Inc. (\"Desjardins\"), an indirect wholly-owned subsidiary of Fédération des caisses Desjardins du Québec  (the \"Transaction\"). There are no outside buyers involved in the Transaction. The Transaction involves units of Fiera LP and shares of Fiera Holdings (the \"Purchased Securities\") representing 7,257,960 Class B voting shares (\"Class B Shares\") and Class A subordinate voting shares (\"Class A Shares\") of the Company, representing 6.8% of the total outstanding shares.\n \n \n This acquisition follows the\n \n April 2024\n \n announcement that Desjardins intended to sell its units of Fiera LP and shares of Fiera Holdings. Per the limited partnership agreement governing Fiera LP, unitholders were granted a right of first refusal to purchase the offered securities.\n \n \n This acquisition enables the Fiera Capital senior management team to solidify their investment in the firm's future, aligning their interests and long-term incentives directly with the Company's strategic goals through increased ownership stakes.\n \n \n \"Desjardins has been a supportive and valued partner since our inception, backing us over the last two decades,\" said\n \n Jean-Guy Desjardins\n \n , Chairman of the Board and Global Chief Executive Officer. \"Despite the repurchase of shares, Desjardins continues to be a valued client, and we look back with satisfaction on our successful partnership.\"\n \n \n \"This transaction is in l...