Street Capital Group Inc. shareholders approved a resolution pursuant to which RFA Capital Holdings Inc. will acquire all of the issued and outstanding common stock of the company for 68 Canadian cents per share in cash.
The resolution was passed at Street Capital's special shareholder meeting Aug. 16.
The transaction is still pending final court approval and the receipt of approvals under the Bank Act (Canada), among other things. Street Capital will apply for a final order of the Ontario Superior Court of Justice approving the deal on Aug. 26.
The deal is expected to close by the end of 2019.