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SCI Acquisition Inc. acquires Sterling Centrecorp Inc.

Date Closed

June 15, 2007

Lead Office


On June 15, 2007, Sterling Centrecorp Inc. completed the previously reported proposed arrangement involving the Sterling Centrecorp, its shareholders and SCI Acquisition Inc. ("SCI"), pursuant to a court-approved plan of arrangement, for C$45 million. Under the transaction, the Sterling Centrecorp's registered shareholders will be entitled to receive C$1.26 in cash for each common share deposited with Equity Transfer & Trust Company. As a result of the arrangement, Sterling Centrecorp becomes a wholly-owned subsidiary of SCI.

Sterling Centrecorp Inc. is a North American real estate investment and management services company specializing in the retail property sector, which is traded on the Toronto Stock Exchange. Sterling, through its North American platform, uncovers and secures real estate opportunities and then aligns itself with strategic financial partners to maximize returns for all parties. The Company has offices located in Toronto, Edmonton, and Montreal, and its U.S. subsidiary has offices located in West Palm Beach, Orlando, Charlotte, Dallas, San Antonio, and Scottsdale. 

McCarthy Tétrault LLP advised SCI, with a team that was led by David Woollcombe, and included Ian Michael and Jerald Wortsman.