Delta Hotels Acquired by bcIMC from Fairmont

On October 2, 2007 a wholly owned subsidiary of British Columbia Investment Management Corporation acquired Delta Hotels Limited from Fairmont Hotels & Resorts Inc.

Delta Hotels is a leading first-class hotel management company in Canada, with a diversified portfolio of hotels and resorts across Canada. bcIMC is an investment management corporation based in Victoria, B.C. with over $83 billion in assets under administration with global exposure, and supported by industry-leading investment expertise. Fairmont is owned by Fairmont Raffles Hotels International, a leading global hotel company with over 80 hotels in 25 countries worldwide under the Raffles, Fairmont and Swissôtel brands.

bcIMC was represented by its in-house counsel Robert des Trois Maisons and Alex Chui; Lawson Lundell LLP in Vancouver with a team that included Rita Andreone and Jag Shergill (corporate), Valerie Mann (competition) and Reinhold Krahn and Len Glass (tax ); and by Blake, Cassels & Graydon LLP in Vancouver with a team that included Anne Stewart, QC and Francis Chang.

Fairmont Hotels & Resorts was represented by Terry Badour, executive vice-president, law and administration and by Iain Morton, senior vice-president & general counsel, Americas Region and by McCarthy Tétrault LLP in Toronto with a team that included Philip Moore, Ian Michael, Lara Nathans and Rochelle Anne Graub (corporate), Gordon Baird (financial services), Oliver Borgers (competition), Gabrielle Richards (tax) and David Ma (technology).

Bentall Capital LP and Avington Financial Limited acted as financial advisors to bcIMC.