Western Investment Company of Canada to Increase Ownership in Fortress Insurance to 43% in Proposed Transaction
Mar 26, 2024•over 1 year ago
Acquiring Company
The Western Investment Company of Canada Limited
Acquired Company
Fortress Insurance Company
CalgaryFinancial ServicesInsuranceDescription
The Western Investment Company of Canada Limited has secured an agreement to purchase 1 million shares, or 14.22% of the total shares outstanding in Fortress Insurance Company, as part of its proposed transaction to increase ownership in Fortress to 43%. This acquisition is in line with Western's strategic vision to transform into an insurance and investment holding company, focusing on compounding book value per share through prudent organic growth and accretive acquisitions.
M&A Insights
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Tech stack consolidation
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Post-acquisition investment
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