Mubadala to take Canada's CI Financial private (updated)

CI Financial

25/11/2024 12:19

(Adds deal value per share in paragraph 2)
       Nov 25 (Reuters) - Mubadala Capital, Abu Dhabi's
sovereign wealth fund, will take Canadian asset and wealth
manager CI Financial  CIX.TO  private in a deal that values the
company at C$4.7 billion ($3.36 billion). 
     Mubadala will pay C$32 per share for the company,
representing a little over 33% upside to the Canadian firm's
Friday close. 
        "Mubadala Capital invests with a long-term outlook and
represents long-term capital – providing stability and certainty
for CIʼs clients and employees," CI's CEO Kurt MacAlpine, .
  
        
  

($1 = 1.3972 Canadian dollars)

 (Reporting by Pritam Biswas in Bengaluru; Editing by Maju
Samuel and Anil D'Silva)
 ((Pritam.Biswas@thomsonreuters.com;))