CI Financial Income Fund Acquires Rockwater Capital

On May 14, 2007, CI Financial Income Fund and Rockwater Capital Corporation completed the acquisition of all the outstanding common shares of Rockwater at $7.62 per share, valuing the transaction at approximately $251 million.

CI Financial Income Fund was represented by Michael J. Killeen, senior vice-president and general counsel and assisted by a team from Goodmans LLP that included Stephen Pincus, Neill May and Kari MacKay (corporate) and Carrie Smit (tax).

Rockwater was represented by general counsel Richard J. Wyruch and by a team from Cassels Brock & Blackwell LLP that included Paul Stein, Alexandra Iliopoulos and Sofia Tsakos (M&A); Peter Dunne (regulatory compliance) and Chris Norton (tax). Rockwater's special committee of the board of directors was represented by Sean Farrell of McMillan Binch Mendelsohn LLP.


Paul M. Stein Carrie B.E. Smit Christopher B. Norton Neill I. May Peter A. Dunne Alexandra (Alex) Iliopoulos Stephen N. Pincus Sofia Tsakos Kari MacKay