Western Investment Secures Major Stake in Fortress

The Western Investment Company of Canada Ltd (TSE:WI) has released an update.

Western Investment Company of Canada Ltd has announced securing agreements to acquire a 45.5% stake in Fortress Insurance, with share purchases contingent on a minimum $20 million transaction with Paul Rivett’s affiliates. The company will resume trading on April 23, 2024, on TSXV following the acceptance of the transaction documentation. Western is offering Fortress shareholders cash or Western shares as part of the acquisition strategy, aiming to grow Fortress substantially by 2028.

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