Business News • MarketWire • CWB Announces Strategic Transaction to Refine Its Growth Strategy |
CWB Announces Strategic Transaction to Refine Its Growth Strategy |
|
|
CWB Announces Strategic Transaction to Refine Its Growth Strategy
EDMONTON, ALBERTA--(Marketwired - Feb. 10, 2015) - Canadian Western Bank Group (TSX:CWB) today announced a refinement to its long-term growth strategy with a definitive agreement to sell its property and casualty insurance subsidiary, Canadian Direct Insurance (CDI), to Intact Financial Corporation (Intact) for $197 million in cash. The purchase price is approximately 2.5 times the net book value of CDI as at October 31, 2014. The transaction is subject to customary closing conditions, including regulatory approvals. The closing date is expected in mid-2015.
View More : http://www.marketwired.com/mw/release.do?id=1990665&sourceType=3
|
|
|