Natixis Investment Managers sell Class A subordinate voting shares in Fiera Capital Corporation
Canada | March 15, 2022
Client: Natixis Investment Managers
Our Montreal, Toronto, London and Munich offices represented Natixis Investment Managers (“Natixis”) in the sale of 10,680,000 Class A subordinate voting shares (“Class A Shares”) held in Fiera Capital Corporation (“Fiera”). Natixis, through certain of its affiliates, entered into a private agreement with Fiera for the repurchase for cancellation of 3,560,000 Class A Shares (the “Repurchase”), as well as an agreement with RBC Capital Markets, pursuant to which Natixis sold, and RBC Capital Markets acquired via a prospectus-exempt block trade bought deal, 7,120,000 Class A Shares.
The Autorité des marchés financiers granted Fiera exemptive relief from the issuer bid requirements under securities laws applicable to the Repurchase. Following completion of the transactions, Natixis no longer holds any Fiera shares. However, the distribution agreement entered in May 2019 between Natixis and Fiera establishing Fiera as Natixis’ preferred Canadian distributor for its investment strategies remains in force, subject to certain amendments. The Investor Rights Agreement between Natixis and Fiera, the Call Option Agreement between Natixis and Fiera Capital L.P. and the Voting Arrangements / Put Option Agreement between Natixis and Jean-Guy Desjardins were terminated.
The Autorité des marchés financiers granted Fiera exemptive relief from the issuer bid requirements under securities laws applicable to the Repurchase. Following completion of the transactions, Natixis no longer holds any Fiera shares. However, the distribution agreement entered in May 2019 between Natixis and Fiera establishing Fiera as Natixis’ preferred Canadian distributor for its investment strategies remains in force, subject to certain amendments. The Investor Rights Agreement between Natixis and Fiera, the Call Option Agreement between Natixis and Fiera Capital L.P. and the Voting Arrangements / Put Option Agreement between Natixis and Jean-Guy Desjardins were terminated.