National Bank of Canada sells Class A shares to Fiera Capital and Natixis Investment Managers Canada Holdings for C$128M

Date Closed

May 10, 2019

Lead Office

Montréal

Value

128.00 Million CAD

On May 9, 2019, National Bank of Canada ("NBC") announced that it will (A) sell to Fiera Capital Corporation ("Fiera Capital"), through one of its wholly-owned subsidiaries, 2,450,000 Class A subordinate voting shares of Fiera Capital at a price of $12.00 per Class A Share, and will (B) sell 8,230,000 Class A Shares at a price of $12.00 per Class A Share for total gross proceeds to NBC of $128,160,000.

Prior to the sales, NBC, through a wholly-owned subsidiary, owned 17,583,484 Class A shares, representing around 21.9% of the outstanding Class A Shares and approximately 17.6% of all outstanding Fiera Capital shares.

NBC monetized this portion of its ownership in Fiera Capital to redeploy in its core activities. NBC has no current immediate intentions of disposing of its remaining investment in Fiera Capital, but may elect to do so in the future by sales on the market, private placement or otherwise, based on any other considerations that may arise.

McCarthy Tetrault LLP is advising NBC with a team led by Patrick Boucher that includes Sonia Struthers.

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