Boutique registered investment advisory firm U.S. Global Investors Inc. will sell Galileo Global Equity Advisors Inc.
Under a binding letter of intent dated Dec. 30, 2019, Galileo Global Equity Advisors, pursuant to its capital restructuring, will purchase all common shares owned by U.S. Global Investors through a wholly owned subsidiary for about the same amount U.S. Global Investors paid for its investment. The deal is anticipated to close on or about March 2, subject to approval by Canadian securities regulators and the satisfaction of other closing conditions.
Michael Waring will continue as president and CEO of Galileo Global Equity Advisors.