Mr. Desjardins, alongside Fiera Canada chief executive Maxime Ménard, other senior managers and two board members, acquired 6.8 per cent of Fiera from Desjardins Financial Holding Inc. for roughly $53-million, the company announced on Friday.
The transaction values Desjardins’ stake at $7.25 per share, representing a 7.1-per-cent premium from the $6.77 per share closing price of Fiera’s Toronto Stock Exchange-listed stock on Thursday. The deal is also the first in a series of planned initiatives, Fiera spokesperson Yasmine Sardouk said in an interview, including an expanded employee stock sharing program.
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