Canaccord Financial Inc. Completes Acquisition of 50% Interest in BGF Equities
|Areas||Asia Practice, Corporate and Commercial|
Goodmans represented Canaccord Financial Inc. (“Canaccord”, TSX: CF, AIM: CF.) in connection with the acquisition of 50% of BGF Capital Group Pty Ltd. (“BGF Equities”), a growing independent investment dealer with operations in Australia and Hong Kong. The business has been rebranded Canaccord BGF. The aggregate consideration paid by Canaccord for the 50% interest in BGF Equities totalled AUD$40.3 million, which was paid in cash and Canaccord common shares. Canaccord has been granted the option to purchase from the existing shareholders the remaining 50% equity interest in Canaccord BGF exercisable for a three-month period commencing on the fifth anniversary of closing.
Canaccord Financial Inc. is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets. Canaccord Genuity, the international capital markets division, operates in Canada, the U.S., the U.K., China, Hong Kong, Australia and Barbados. Canaccord BGF is an Australian-based, securities advisory firm with offices in Melbourne, Sydney and Hong Kong. The company provides investment banking, sales and trading, research and wealth management services to clients in Australia, Asia and the UK.