Financial Services Regulatory

Bank of Montreal in its US$16.3 billion acquisition of Bank of the West

On December 20, 2021, Bank of Montreal announced the signing of a definitive agreement with BNP Paribas to acquire Bank of the West for a cash purchase price of US$16.3 billion. On closing, the acquisition will bring nearly 1.8 million customers to BMO and extends its banking presence in key U.S....

Lead Office: Toronto Date Closed: February 1, 2023 Value: US$16.3 billion

CURO in its acquisition of Flexiti Financial

On February 1, 2021, CURO Group Holdings Corp. (CURO) announced that it had agreed to acquire FLX Holding Corp. and its operating subsidiary, Flexiti Financial Inc. (Flexiti) for CAD $108.6 million, plus earn-out amounts of up to CAD $46.5 million. The transaction is expected to close in...

Lead Office: Toronto Date Closed: March 10, 2021 Value: $155.1 million

Goldman Sachs Merchant Banking in its $1.13 billion acquisition of People Corporation

On December 14, 2020, Goldman Sachs Merchant Banking Division (MBD) entered in an agreement to acquire People Corporation for a value of $1.13 billion. The acquisition will position People Corporation’s to grow and expand its opportunity to further enhance the delivery of...

Lead Office: Toronto Date Closed: February 18, 2021 Value: $1.13 billion

Ontario Teachers' Pension Plan Board in its investment in Duo Bank of Canada in connection with Duo Bank of Canada’s acquisition of Fairstone Financial Holdings Inc.

On January 4, 2021, Duo Bank of Canada, in partnership with Stephen Smith, Centerbridge Partners L.P. and Ontario Teachers' Pension Plan Board, completed its acquisition of Fairstone Financial Holdings Inc. The acquisition supports Duo Bank of Canada’s growth objectives as it...

Lead Office: Toronto Date Closed: January 4, 2021 Value: -

Royal Bank of Canada in its inaugural Additional Tier 1 offering of $1.75 billion

On July 15, 2020 Royal Bank of Canada (RBC) announced its inaugural Additional Tier 1 (AT1) offering of Limited Recourse Capital Notes at $1.75 billion. This offering represents the first issuance of a new form of AT1 capital instrument using a novel structure pioneered by RBC and the Osler team...

Lead Office: Toronto Date Closed: July 28, 2020 Value: $1.75 billion

Princeton Holdings Limited in the sale of The Guarantee Company of North America and Frank Cowan Company Limited to Intact Financial Corporation.

Princeton Holdings Limited completed its sale of The Guarantee Company of North America and Frank Cowan Company Limited to Intact Financial Corporation on December 2, 2019. Princeton Holdings is a private holding company that is headquartered in Cambridge, Ontario. All subsidiary companies...

Lead Office: Toronto Date Closed: December 2, 2019 Value: -

WealthBar with respect to CI Financial’s acquisition of a majority stake in WealthBar

On January 23, 2019, WealthBar announced the completion of their purchase transaction whereby CI Financial Corp. acquired 75% of WealthBar’s issued and outstanding common shares. WealthBar is one of Canada’s leading wealth management and financial planning robo-advisory firms for...

Lead Office: Vancouver Date Closed: January 23, 2019 Value: -

JP Morgan Chase & Co. in its acquisition of WePay Inc.

On December 4, 2017, JP Morgan Chase & Co. ("JP Morgan") completed its acquisition of WePay Inc. ("WePay"). This is JP Morgan's first major acquisition of a financial-technology start-up. JP Morgan will provide its four million small businesses clients with...

Lead Office: Toronto Date Closed: December 4, 2017 Value: -

The Bank of Nova Scotia in its launch of a new form of Additional Tier 1 Capital

On October 12, 2017, The Bank of Nova Scotia ("BNS") completed an offering of 4.650% fixed to floating rate non-cumulative subordinated additional Tier 1 Capital Notes for US$1.25 billion. This offering represented the first issuance of this new form of Additional Tier 1...

Lead Office: Toronto Date Closed: October 12, 2017 Value: US$1.25 billion

Constellation Brands, Inc. in the sale of its Canadian wine business to Ontario Teachers’ Pension Plan for approximately $1.03 billion

On October 17, 2016, Constellation Brands, Inc., a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Canada, Mexico, New Zealand and Italy, announced the sale of its Canadian wine business to Ontario Teachers’ Pension Plan for approximately $1.03...

Lead Office: Toronto Date Closed: December 16, 2016 Value: $1.03 Billion