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EQB to Acquire 75% Interest in Canadian Asset Manager ACM Advisors.

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Vincent

MANews-(C)2009-2023

Canadian banking services provider EQB Inc. (TSX: EQB) and (TSX: EQB.PR.C) has agreed to acquire a 75% interest in Canadian alternative asset managers ACM Advisors Ltd. in a cash and share transaction, the company said.

EQB is leveraging cash to complete the acquisition, supported by existing lending facilities at EQB, and a de minimis number of EQB shares to be issued at closing at a price based on the volume weighted average trading price.

With USD 4.8bn in assets under management as of September 30, 2023, ACM specialises in the creation, structuring, and management of pooled Canadian commercial mortgage funds on behalf of pension plans, investment funds, charitable foundations, corporations, and accredited retail investors.

ACM will operate as an independent subsidiary of EQB. EQB anticipates the acquisition will close before the end of 2023, subject to the receipt of regulatory...

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