Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, reached an agreement to take CI Financial private in an all-cash transaction valued at C$4.7 billion ($3.35 billion) in equity, with an enterprise value of C$12.1 billion ($8.6 billion). Shareholders will receive C$32 ($22.80) per share, representing a 33 percent premium over CI’s last closing price and a 58 percent premium over its 60-day average trading price. Being the first major aggregators in the industry to been acquired by a sovereign fund, this transaction is a significant move in the wealth management industry landscape.
This move provides CI with long-term, stable capital to support its goal of becoming a leader in wealth and asset management. CI, headquartered in Canada, will maintain its operations and structures, and the firm will continue to operate independently of Mubadala’s other businesses.
CI’s board of directors strongly approve this transaction, as well as
