Livingston Completes IPO of Trust Units

Livingston International Income Fund completed its initial public offering of $151.026 million of trust units on February 11, 2002. The proceeds from the offering were used to purchase all of the outstanding securities of Livingston International Inc., Canada’s leading customs brokerage company and trade-related service provider. The underwriters for the offering were led by Scotia Capital Inc.

The fund and certain of the shareholders of Livingston International were represented by Simon Romano, Orysia Semotiuk and Samantha Levy (corporate), Lianne Miller (tax), Mario Paura (real estate) and Marie Garneau and Wesley Ng (banking) of Stikeman Elliott. The underwriters were represented by a team from Fasken Martineau LLP that included Joel Binder, Bruce Blain, Sean Stevens and Chris Bent (corporate) and Nigel Johnston (tax) in Toronto.