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Fiera Capital seeks to buy Charlemagne Capital for $52.8M

Fiera CapitalCorp. is offering to acquire independent asset manager in atransaction valued at approximately £40.7 million ($52.8 million).

Charlemagne Capital shareholders will receive 14 pence incash in aggregate for each Charlemagne Capital share. The per-share purchaseprice is composed of 11 pence in cash for each Charlemagne Capital share and aspecial dividend of 3 pence per Charlemagne Capital share. The purchase pricerepresents a premium of approximately 16.7% to the closing price of 12 penceper Charlemagne Capital share Sept. 29.

Fiera Capital has received irrevocable undertakings fromCharlemagne Capital shareholders representing a total of 122,613,472Charlemagne Capital shares, representing approximately 42.15% of its issuedshare capital.

The offer will be implemented by means of a court-approvedscheme of arrangement.

The acquisition would give Fiera Capital an entry into theemerging and frontier markets asset class and opportunities to expand itsinvestment strategies in the U.K. and Europe.

The transaction is expected to provide low single digitaccretion to adjusted EPS in the 2017 fiscal year.

Charlemagne Capital is an emerging markets equity investmentmanager with more $2.2 billion AUM at Aug. 31. Its operations are based in theIsle of Man and London with a branch office in Germany.