Mubadala to fully takeover CI Financial: The shareholders of Canada-based asset and wealth management firm CI Financial approved a plan that will take the company private in a CAD 4.7 bn (USD 3.4 bn) transaction, backed by Mubadala’s asset management unit, Mubadala Capital, it said in a statement to the Toronto Stock Exchange. The transaction, which received approval from 99.9% of shareholders, is expected to close in 2Q 2025, pending regulatory approvals. The total agreement, including debt, values CI at CAD 12.1 bn.

What’s next? CI Financial will remain headquartered in Canada, with CEO Kurt MacAlpine continuing to lead the firm under Mubadala’s long-term investment philosophy. Other senior management members will also roll some of their shares into the private entity.

ADVISORS- INFOR Financial is the financial advisor to CI’s special committee of independent members of the board, while Wildeboer Dellelce is serving as legal advisor. Stikeman Elliott and Skadden, Arps, Slate, Meagher & Flom are serving as legal advisors to CI, while RBC Capital Markets is also an advisor to CI. Jefferies Securities is Mubadala Capital’s lead financial advisor, with Blake, Cassels & Graydon and Latham & Watkins serving as legal advisors, FGS Longview acting as strategic communications and public affairs advisor, and BMO Capital Markets also acting as advisor.

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