Company announcements from CI Financial, financial news reports

CI Financial to Go Private in Mubadala-Backed C$12.1 Billion Deal Amid Conflicting Valuations

Nov 25, 2024, 03:10 PM

Canadian mutual fund manager CI Financial is set to be taken private in a deal backed by Abu Dhabi’s Mubadala Capital. The transaction is valued at approximately C$12.1 billion. The deal is part of CI Financial's strategy to pivot from product manufacturing to acquiring US-based RIAs. The privatization move, valued at $3.4 billion, $8.7 billion, and C$4.7 billion in various reports, is seen as a significant shift in the company's operational strategy.