Latest news with #financialdeal
CTV News
3 days ago
- Business
- CTV News
iA Financial buying RF Capital Group for $370 million
Bank skyscrapers are seen from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. THE CANADIAN PRESS/Adrien Veczan QUÉBEC — iA Financial Corp. Inc. says it has reached a deal to buy RF Capital Group Inc., which operates under the Richardson Wealth brand, for $370 million. Quebec City-based iA Financial says it's paying $20 per common share in cash for the independent wealth management firm, while financial obligations including debt and preferred shares bring the total consideration to $597 million. iA Financial says the deal will expand its national footprint and adds more than $40 billion in assets under administration to the firm. It says the purchase price represents a 102 per cent premium to RF's 30-day volume weighted average share price on the TSX. iA Financial says the deal brings the total assets under administration in its wealth division to about $175 billion and creates scale advantages. Founded in 1892, iA Financial Group says it is one of the largest insurance and wealth management groups in Canada. This report by The Canadian Press was first published July 28, 2025.
Yahoo
3 days ago
- Business
- Yahoo
iA Financial buying RF Capital Group for $370 million
QUÉBEC — iA Financial Corp. Inc. says it has reached a deal to buy RF Capital Group Inc., which operates under the Richardson Wealth brand, for $370 million. Quebec City-based iA Financial says it's paying $20 per common share in cash for the independent wealth management firm, while financial obligations including debt and preferred shares bring the total consideration to $597 million. iA Financial says the deal will expand its national footprint and adds more than $40 billion in assets under administration to the firm. It says the purchase price represents a 102 per cent premium to RF's 30-day volume weighted average share price on the TSX. iA Financial says the deal brings the total assets under administration in its wealth division to about $175 billion and creates scale advantages. Founded in 1892, iA Financial Group says it is one of the largest insurance and wealth management groups in Canada. This report by The Canadian Press was first published July 28, 2025. Companies in this story: (TSX:RCG; TSX:IAG) The Canadian Press
CTV News
3 days ago
- Business
- CTV News
Birch Hill, Brookfield buying First National Financial in $2.9-billion deal
Stephen Smith, President and CEO of First National Financial Corp. addresses shareholders at the company's annual general meeting in Toronto. THE CANADIAN PRESS/Nathan Denette TORONTO — First National Financial Corp. says it has agreed to be sold in a roughly $2.9 billion deal. The mortgage firm says funds managed by Birch Hill Equity Partners Management Inc. and Brookfield Asset Management are the buyers though a newly-formed acquisition vehicle. First National Financial says founders Stephen Smith and Moray Tawse will each indirectly maintain about a 19 per cent interest in the company. It says the purchase price of $48 a share represents a 15.2 per cent premium to the average of the past 30 trading days and is above the 52-week high for the company, though it is below its peak of over $52 a share in 2021. First National Financial says the deal came after a strategic review and that it offers compelling value and liquidity to shareholders. Founders Smith and Tawse respectively hold about 37.4 per cent and 34 per cent of outstanding shares, of which they will sell about two-thirds to the buyers and exchange the rest into ownership interests. This report by The Canadian Press was first published July 28, 2025.
Khaleej Times
4 days ago
- Entertainment
- Khaleej Times
Watch: Actress, who wore PM Modi necklace at Cannes 2025, slaps producer at film premiere in Mumbai
In a dramatic turn of events at the So Long Valley premiere in Mumbai, actress Ruchi Gujjar — who went viral for wearing the viral PM Modi necklace at this year's Cannes Film Festival — publicly threw her heels and got in an altercation with producer Karan Singh Chauhan, accusing him of duping her in a Rs2.3 million financial deal gone wrong, according to Indian media outlets. The confrontation wasn't just a publicity stunt as Gujjar has filed an FIR at the Oshiwara police station (July 24, 2025), citing criminal breach of trust, threats, and financial misconduct. According to a report in India Today, she alleges Chauhan took the money for a Hindi TV project he promised to co-produce with her, one that never even began production. Gujjar claims she transferred the money between July 2023 and January 2024 through her company, SR Event and Entertainment, after Chauhan offered her a profit share and on-screen credit. The incident exploded when Gujjar confronted Chauhan at the film's premiere in Mumbai, where she claims he became aggressive after she demanded repayment, prompting the now-viral altercation. View this post on Instagram A post shared by Bollywood News (@bolly_newssss) So Long Valley director Man Singh weighed in, calling the incident a 'publicity stunt,' adding, 'If Ruchi paid money to Karan, let her show proof.' Chauhan, on his part, denied the allegations and said Gujjar even sought a stay on the film's release — which the court rejected. Mumbai police have registered an FIR against Karan. Gujjar has reportedly submitted banking records and documentation to support her claims, while investigations continue.
