•   
  •   
  •   

MoneyGMP Capital to sell its capital markets business to U.S. investment banker Stifel Financial

17:07  17 june  2019
17:07  17 june  2019 Source:   financialpost.com

Sale shows big loss in investment value of China-backed Alberta oil project

Sale shows big loss in investment value of China-backed Alberta oil project CALGARY — A Chinese company's $817-million investment in a northern Alberta heavy oil project nine years ago has collapsed in value to less than $80 million, based on the price its Canadian partner has negotiated for the sale of its majority stake. 

Stifel Financial Corp. agreed to buy GMP Capital Inc.’ s advisory and trading business for about million, adding the core unit at one of Canada’ s last publicly traded independent securities firms. “We are merging with the best small-to-mid-cap house in the world

Stifel Financial Corp. agreed to buy GMP Capital Inc.’ s advisory and trading business for about C million ( GMP Deal Makes Stifel More Accessible to U . S . Clients, CEO Kruszewski Says. GMP Capital has traditionally focused on providing investment banking to small-to-midsize resource

GMP Capital to sell its capital markets business to U.S. investment banker Stifel Financial© Provided by PostMedia Digital

Toronto’s GMP Capital Inc. has announced that it is selling its capital markets business to Stifel Financial Corporation in an all-cash transaction.

GMP said in a statement Monday that the price will be the book value of the business at the closing of the transaction, plus $45 million.

The deal comes after a strategic review of the company that determined the transaction would be in the best interests of the corporation.

“The GMP Board’s decision to sell this business reflects our belief that our clients and employees will enjoy substantial benefit from the expanded opportunities and necessary critical mass that a world class player like Stifel brings to the table,” said Don Wright, GMP chairman.

Serena Williams's Net Worth Is So Jaw-Dropping, It Just Landed Her a Place in History

Serena Williams's Net Worth Is So Jaw-Dropping, It Just Landed Her a Place in History With a net worth of approximately $225 million, tennis star Serena Williams just became the first athlete to land on Forbes' coveted list of the richest self-made women under the age of 40. But if you think she earned her millions strictly from those 23 Grand Slam titles, you've underestimated her financial savvy. According to the publication, Serena's impressive bank balance comes from a variety of sources. At the age of 37, she owns stakes in two massive sports ventures: the Miami Dolphins football team and the mixed martial arts organization UFC.

Toronto-based financial services provider GMP ’ s capital markets business offers investment banking services, including equity capital raising, mergers & acquisitions advisory, institutional sales and trading and research Stifel remains focused on building its investment banking capabilities.

Founded in 1995, GMP ’ s capital markets business offers corporate clients and institutional investors a broad range of investment banking services, including Under the terms of the definitive agreement, Stifel will acquire the bulk of GMP ’ s capital markets business , excluding the U . S . cannabis and

Stifel, headquartered in St. Louis, Missouri, has a market cap of more than $4 billion and over 7,500 associates worldwide.

Read more

Banking sector should help tackle climate change.
The House of Commons passed a motion last week declaring that Canada is in a state of climate emergency. This important decision came after Environment and Climate Change Canada released a report demonstrating how, driven by human influence, temperatures are rising across all regions of our country, particularly in the North. In fact, the report found the average annual temperature in Northern Canada has increased by an alarming 2.3° C since 1948. Climate change affects all of us. It reaches into our daily lives — as just one example, look at the recent increase in wildfires in Western Canada, and the intensity of the smoke that blankets our provinces each summer.

—   Share news in the SOC. Networks
usr: 3
This is interesting!