Page 4 - Kurt Macalpine News Today

Three have concluded that the financing deal for its U.S. wealth platform announced last week will be more costly than initially believed

Debt-heavy CI sold preferred shares that represent a 20-per-cent interest in its U.S. wealth management business to a group of investors that includes Bain Capital, Ares Management and an arm of the Abu Dhabi Investment Authority

Investment in U.S. business at a $6.7 billion equity value, ~3x CI’s current market cap $7.1 billion U.S. business enterprise value, 25.6x CI US Q1’23 annualized Adjusted... | May 11, 2023

A look at North American equities heading in both directions

Diluted EPS of $0.16, adjusted EPS1 of $0.74 EBITDA of $148.3 million, adjusted EBITDA1 of $250.1 million Operating cash flow of $145.6 million, free cash flow1 of $155.1 million Total... | May 11, 2023

CI also named Ares Management Corp. and the state of Wisconsin as members of the investor group.

Bain and Abu Dhabi are among the investors buying a 20% stake in CI Financial Corp.'s U.S. wealth management unit.

CI Financial Corp will sell a 20% stake in its U.S. wealth management arm to Bain Capital LP and other investors for C$1.34 billion , the Canadian asset manager said on Thursday, pausing efforts... | May 11, 2023

Group of institutional investors to pay $1.34-billion for minority investment

The $1 billion cash injection gives the business an enterprise value of about $5.3 billion.