Canaccord to buy Australian securities business Patersons for $23 million
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 10/06/2019 (2641 days ago), so information in it may no longer be current.
TORONTO – Canaccord Genuity Group Inc. has struck a deal to acquire Australian financial services firm Patersons Securities Ltd. for roughly $23 million in cash.
The Melbourne-based securities business has operations in wealth management and capital markets.
Canaccord chief executive Dan Daviau says the addition of Patersons is part of its strategy to increase the scale of its wealth management operations and improve its business mix in Australia.
The Canadian financial services firm said the transaction was conducted through its Australian operation, Canaccord Genuity Australia.
The deal is subject to various conditions, including shareholder and court approval and is expected to be completed during the quarter ended Dec. 31, 2019.
Cash consideration of $25 million Australian dollars or 23.55 Australian cents per share, amounting to roughly C$23 million, will be paid upon closing.
Companies in this story: (TSX:CF)