Brief: CI Financial Announces Sale Of Its Minority Stake In Congress Wealth Management

CI Financial

27/04/2023 18:05

April 27 (Reuters) - CI Financial Corp  CIX.TO :
    * CI FINANCIAL ANNOUNCES SALE OF ITS MINORITY STAKE IN
CONGRESS
WEALTH MANAGEMENT
    * CI FINANCIAL CORP- REACHED AN AGREEMENT TO SELL ITS
MINORITY
STAKE IN CONGRESS WEALTH MANAGEMENT, LLC  TO AUDAX PRIVATE
EQUITY
    * CI FINANCIAL CORP - TRANSACTION IS EXPECTED TO CLOSE IN
MAY 2023
    * CI FINANCIAL- UNDER SALE, RECEIVED RETURN OF ABOUT THREE
TIMES
ITS INITIAL INVESTMENT IN CONGRESS & TO USE PROCEEDS FROM
TRANSACTION TO PAY DOWN DEBT

Source text for Eikon:  ID:nBwbtLCLda 
Further company coverage:  CIX.TO 

 ((Reuters.Briefs@thomsonreuters.com;))