UAE’s Mubadala Capital completes the acquisition of Canadian wealth firm CI Financial, valuing the company at nearly C$4.7bn. The deal includes the purchase of all issued shares at C$32 per share in cash, totaling over $430bn in assets under Mubadala’s management. CI Financial will retain operational independence and maintain its headquarters in Toronto.

CI Financial’s CEO Kurt MacAlpine expresses excitement over the partnership with Mubadala Capital, highlighting the shared aspirations and commitment to growth. The acquisition provides enhanced access to Mubadala’s global network and financial backing, aiming to explore new opportunities in the asset and wealth management sectors both domestically and internationally.

Mubadala Capital CEO Hani Barhoush emphasizes the synergies between CI’s wealth management expertise and Mubadala’s alternative investment capabilities. The collaboration aims to build a differentiated platform focused on capital stewardship and innovation in wealth management, providing clients with comprehensive solutions for wealth preservation and growth.

Read more at Yahoo Finance: Mubadala Capital wraps up purchase of Canadian wealth firm CI Financial