The Western Investment Company of Canada Ltd (TSE:WI) has released an update.
The Western Investment Company of Canada Ltd has successfully acquired 59.36% of Fortress Insurance, surpassing the 51% threshold necessary to advance their strategic transaction aimed at transforming into an insurance and investment holding firm. With agreements to purchase additional shares still in progress, Western is poised to seek shareholder approval for the deal. The proposed transaction includes a significant investment from Paul Rivett’s affiliates and a rights offering to raise further funds, positioning Rivett as the new CEO with ambitious growth targets for Fortress.
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