MONTREAL, Jan. 31, 2013 /CNW Telbec/ - Fiera Capital Corporation ("Fiera" or the "Firm") (TSX: FSZ) announced today the closing of the transaction under which Fiera acquires the Canadian fixed income, Canadian equity and domestic balanced account business from UBS Global Asset Management (Canada) Inc., representing assets under management of approximately $8 billion for a cash consideration of $52 million, subject to certain adjustments. This transaction, previously announced on December 11, 2012, is immediately accretive to earnings.
The transaction has been approved by regulatory authorities and has satisfied other customary conditions.
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly traded, independent investment firm. The Firm is one of only a handful of full service, multi-product investment firms in Canada, offering clients a proven top tier track record in equity and fixed income management as well as depth and expertise in asset allocation and alternative investments. www.fieracapital.com
Additional information relating to the Firm, including the Firm's annual information form, is on SEDAR at www.sedar.com.
About UBS Global Asset Management
UBS Global Asset Management, a business division of UBS, is a large-scale asset manager with well-diversified businesses across regions, capabilities and distribution channels. It offers investment capabilities and investment styles across all major traditional and alternative asset classes. These include equity, fixed income, currency, hedge fund, real estate, infrastructure and private equity investment capabilities that can also be combined in multi-asset strategies. The Fund Services unit provides professional services including legal fund set-up, accounting and reporting for traditional investment funds and alternative funds.
SOURCE: FIERA CAPITAL CORPORATION