Blakes, Wildeboer Dellelce assist in G-Corp’s merger to Ontario-based insurance solutions firm

Pushor Mitchell, Henley & Straub also legal counsel this week

Blakes, Wildeboer Dellelce assist in G-Corp’s merger to Ontario-based insurance solutions firm

Blakes and Wildeboer Dellelce are assisting in the announced merger between Canaccord Genuity G Ventures Corp. and an Ontario-based insurance solutions firm. Also in this week’s deals roundup are Pushor Mitchell and Henley & Straub as legal counsel.

G-Corp to combine with Ontario-based insurance solutions firm Mount Logan

Canaccord Genuity G Ventures Corp. (G-Corp), a special purpose acquisition corporation incorporated under the laws of the Province of Ontario, has entered into an agreement to merge with Mount Logan Capital Inc., an Ontario-based asset management and insurance solutions company.

Mount Logan operates through its subsidiaries, Mount Logan Management LLC and Ability Insurance Company.

Blake, Cassels & Graydon LLP is serving as legal counsel to G-Corp.

Wildeboer Dellelce LLP is serving as legal counsel to Mount Logan.

“We are thrilled to announce this transformative combination, which marks a significant milestone for our company,” said Mount Logan CEO and Chairman Ted Goldthorpe. “This transaction provides Mount Logan with additional resources to accelerate our growth, scale our operations and deepen our capabilities across our asset management and insurance solutions segments. We are excited to build Mount Logan into the next generation of best-in-class Canadian asset managers.”

Upon deal completion, all members of Mount Logan's board of directors are expected to maintain their positions.

The G-Corp special meeting of shareholders is expected to take place on or about October 16, 2023. The closing of the business combination is anticipated to take place shortly after the meeting.

Peninsula Co-op to purchase seven Liquor Express retail outlets on Vancouver Island

Peninsula Consumer Services Co-operative (Peninsula Co-op) has agreed to purchase seven retail outlets on Vancouver Island from the owners of Liquor Express.

Pushor Mitchell LLP is serving as legal counsel and KPMG Corporate Finance Inc. as the exclusive financial advisor to Peninsula Co-op.

Henley & Straub LLP is serving as legal counsel to Liquor Express.

Included in this acquisition are seven Liquor Express locations:

  • Yates St. at Blanshard, Downtown Victoria
  • Wilkinson Rd at Interurban, Saanich
  • Six Mile at Island Hwy, View Royal
  • Keating Centre, Saanichton
  • Tillicum Mall, Saanich
  • Esquimalt Plaza, Esquimalt
  • Selby St., Nanaimo

Peninsula Co-op CEO Corey Gillon said, “While valuing our origins as a community-based member-owned organization, we are thrilled to expand our footprint of retail liquor locations. Undoubtedly, this transaction signifies a shift that supports the scaling of our existing retail platform and enables us to continue on the path of increased presence in the retail liquor sector.”

The deal is expected to close in mid-September, 2023, subject to customary closing conditions and regulatory approvals.

Innergex signs $188.4 million long-term co-investment agreement with Crédit Agricole Assurances

Innergex Renewable Energy Inc. signed a long-term co-investment agreement with Crédit Agricole Assurances, France’s leading insurer, in a deal valued at €128.0 million ($188.4 million).

“This long-term partnership agreement is a show of confidence by a well-reputed and financially sound French partner like Crédit Agricole Assurances in the quality of our existing assets, our development activities and strategy in France, and the quality and expertise of our development team,” said Innergex President and CEO Michel Letellier. “As the new renewable energy bill adopted by the French Parliament promises to accelerate renewable energy development, this long-term partnership provides Innergex with additional financial flexibility to continue and accelerate our greenfield development activities of wind and solar projects in the years ahead.”

“This investment in Innergex France, a high-potential French renewable platform and a subsidiary of a leading pure play renewable group with a proven track record, is fully in line with Crédit Agricole Group's climate commitments,” said Crédit Agricole Assurances CEO Philippe Dumont. “This operation will also contribute to Crédit Agricole Assurances' objectives to increase its investments in renewable energies and reach a 14 GW installed capacity by 2025.”

The deal is anticipated to be completed in the second half of 2023, subject to customary closing conditions.

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