Business News • MarketWire • Dundee Corporation Announces the Completion of the Sale of Its Position in DundeeWealth Inc. |
Dundee Corporation Announces the Completion of the Sale of Its Position in DundeeWealth Inc. |
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Dundee Corporation Announces the Completion of the Sale of Its Position in DundeeWealth Inc.
TORONTO, ONTARIO--(Marketwire - Feb. 1, 2011) - Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) announced today that it has completed the sale of its position in DundeeWealth Inc., comprised of 69,940,415 common shares and 5,453,668 First Preference, Series X shares, to The Bank of Nova Scotia, pursuant to the terms of the Bank's Offer dated December 15, 2010 and in accordance with the terms of the Lock-up Agreement among Dundee Corporation, the Bank, Ned Goodman and David Goodman. In accordance with the Offer, Dundee Corporation received 18,599,029 common shares of the Bank and 14,897,209 3.70% preferred shares of the Bank. In addition, Dundee Corporation received a cash dividend of $149 million from DundeeWealth and 74,484,956 common shares of Dundee Capital Markets Inc.
View More : http://www.marketwire.com/mw/release.do?id=1388191&sourceType=3
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