RE:How will CIX decision to separate The IPO will be debt-free and an attractive vehicle for US investors and a possible acquisition target for US financial companies. The debt will remain on the CI Canada balance sheet, a big chuck of which will be paid by the money raised from the IPO. Note, CI will still own a stake in CI USA IPO's firm. So let's say they IPO the firm at a value of $3Bn, and CI parts ways with 60% of the business. Then CI Canada ends up with the $3Bn (less fees) and 40% stake in the publicly traded CI USA.
Pretty good maneuvering by McAlpine, to build a nice US wealth management package and spin it off. Keeping the Canadian free cash flow machine all the while.