Revera and Reseau Selection Enter Joint Venture Agreement

Revera Inc. and Réseau Sélection have entered into a joint venture arrangement which combines Revera's seven retirement residences in Quebec, together with the newly acquired “Le Cambridge” residence with 11 properties currently owned and managed by Réseau Sélection. Revera and Réseau Sélection will jointly own all 19 residences, while a partnership controlled by Réseau Sélection will be responsible for managing the sites and staff as well as day-to-day operations. Revera and Réseau Sélection have also entered into a joint venture to develop a new seniors residence in Rouyn-Noranda, which is currently under construction.

Revera was represented by in-house counsel Kim Kowalik, and by Davies Ward Phillips & Vineberg LLP with a team including Sébastien Thériault, Véronique Gaumond-Carignan, Julien Brosseau, Christina Sauro and Corey Wolman. Revera was also advised by KPMG LLP on tax matters.

Réseau Sélection was represented by in-house counsel Louise Pelletier, and by Lavery, de Billy, L.L.P. with a team including André Champagne, Étienne Brassard, Catherine Rioux, Carole Gélinas and Simon Bisson. Réseau was also advised by Hardy, Normand & Associés LLP on tax matters.

Elisa Kearney from Davies Ward Phillips & Vineberg LLP assisted both Revera and Réseau Sélection on competition matters.