Intact Financial Corporation, through a wholly owned subsidiary, completed its acquisition of all of the issued and outstanding shares of Canadian Direct Insurance Inc. from Canadian Western Bank. The acquisition was financed by IFC exclusively with excess capital. The acquisition enhances IFC’s position in Canada by extending its direct-to-consumer operations from coast to coast.
IFC’s team was led by Françoise Guénette, Senior Vice-President, Corporate and Legal Services, and included Joanna Grossman, Associate Senior Counsel. Fasken Martineau DuMoulin LLP assisted IFC on the transaction, with a team that included Robert McDowell, Koker Christensen and Marvin Mikhail (M&A and regulatory); Sean Farrell (securities); Ralph Nero (employment); Peggy McCallum (pensions); May Cheng (intellectual property); Andrew Nunes and Michael Shour (information technology); Doug New (competition); Kathleen Hanly and Paul Casuccio (tax); Daniel Fabiano (privacy) and Arun Krishnamurti (corporate).
CWB’s team was led by Gail Harding, Senior Vice President, General Counsel and Corporate Secretary, and included Marek Warshawski, Senior Legal Counsel. Blake, Cassels & Graydon LLP assisted CWB on the transaction, with a team that included Cheryl Satin, Doug Robertson, Tom Rowe and Andrew Clark (M&A and corporate); Ross Bentley and Chris Salamon (securities); Paul Belanger (regulatory); Sean Maxwell (pensions and benefits); Maxwell Brunette and Shaun Parker (employment); Debbie Salzberger (competition); Chris Van Loan and Josh Jones (tax); Gary Daniel (intellectual property) and Parna Sabet-Stephenson (information technology).