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EN
RF Capital shareholders approve iA Financial deal
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Advisor.ca
iStockphotoRF Capital Group Inc. shareholders voted on Monday to approve the firm’s $597-million sale to iA Financial Corp.
The offer of $20 per common share (and $25 in cash for Series B preferred shares) was announced in July.
The purchase price includes $370 million for RF Capital’s diluted equity and $227 million in financial obligations.
To pass, the deal required the approval of two-thirds of votes cast; 98.9% of common shares were voted in approval and 99.6% of preferred shares.
RF Capital, operating as Richardson Wealth, holds $42 billion in assets under administration and its acquisition will add 189 advisors to Quebec-based iA.
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