GMP Acquires FirstEnergy Capital

Goodmans LLP represented GMP Capital Inc. (GMP) (TSX: GMP) in its acquisition of FirstEnergy Capital Corp. (FirstEnergy), an industry leader in the global energy sector.  The combination of GMP and FirstEnergy creates a premier franchise in the global energy and Canadian independent brokerage spaces.  

Concurrent with closing, GMP combined its existing energy franchise and FirstEnergy, rebranded as GMP FirstEnergy. 

On closing, GMP issued 11,161,671 GMP common shares to FirstEnergy shareholders, with the remaining balance of the consideration to be paid to FirstEnergy shareholders in the form of a five-year promissory note.  A significant portion of the common shares issued to FirstEnergy shareholders are subject to an escrow agreement and will vest over a four-year period.  

GMP is a leading independent diversified financial services firm headquartered in Toronto, Canada, providing a wide range of financial products and services to a global client base.