Ernst & Young Corporate Finance Acquires Orenda Corporate Finance

On July 14, 2004, Ernst & Young Corporate Finance Inc., the corporate finance arm of Ernst & Young, completed the acquisition of Orenda Corporate Finance Ltd., a 14-year-old private merchant banking and advisory boutique based in Toronto. The amount of the transaction is undisclosed. The merger makes the collective entity, Ernst & Young Orenda Corporate Finance Inc., one of Canada\'s premier mid-market corporate finance firms.

Ernst & Young’s legal team of Doris Stamml, Jacqueline Maarse and Robb MacMillan handled the transaction, with tax advice from Ernst & Young and support from Torys. Ernst & Young’s tax advice was provided by a team of Eric Ostfield, Stephen Landau and Eric Xiao. The Torys team consisted of Beth DeMerchant and Phil Mohtadi (corporate), Ilene Shiller
(regulatory) and Marni Halter.

Orenda Corporate Finance Ltd. and all of its shareholders were represented by Aird & Berlis, with the team of Martin Kovnats, Dennis Miller, Barb Worndl, Rob Martini and Kay Leung.

Certain non-founding stakeholders of Orenda were represented by Stan Freedman and Angus McKinnon of Heenan Blaikie.