Clairvest completes sale of Kubra

Clairvest Group Inc., together with Clairvest Equity Partners III Limited Partnership (collectively, Clairvest) sold an 80 per cent stake of their common shares of KURBRA Data Transfer Ltd. to Hearst Corporation. Financial terms were not disclosed.

KUBRA and Clairvest were represented by Torkin Manes LLP, with a team of Matthew Tevlin, Glen Eddie, Chaim Sapirman, Jonathan Leibtag, Catherine Nicholson and Jonah Mayles. Financial Technology Partners LP and FTP Securities LLC acted as strategic and financial advisors to KUBRA and its Board of Directors in this transaction.

Hearst was represented by Clifford Chance LLP in the US and Stikeman Elliott LLP in Canada with a team comprising Curtis Cusinato, Jeff Hershenfield and Frank Selke (corporate/M&A); John Lorito and Lindsey Gwyer (tax); Kristina Vranjkovic (banking); Lorna Cuthbert and Will Hockin (employment and labour); Andrea Boctor (pensions); Nili Birshtein (real estate); Jeff Brown (competition) and Justine Whitehead and Alexandra Stockwell (intellectual property).