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Westaim Corp V.WED

Alternate Symbol(s):  WEDXF

The Westaim Corporation is a Canadian investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. The Company invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Its strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long term. Its investments include significant interests in Arena and the Arena FINCOs. The Arena FINCOs are private companies which include specialty finance companies that primarily purchase fundamental-based, asset-oriented credit and other investments for their own account. Arena consists of two main business lines: Arena Investors and Arena Institutional Services (AIS). Arena Investors operates as an investment manager.


TSXV:WED - Post by User

Bullboard Posts
Post by TenBagson Jan 25, 2010 8:42am
781 Views
Post# 16714074

Here's a clue on the direction of WED

Here's a clue on the direction of WED

_the news out this morning......

KINGSWAY ANNOUNCES DEFINITIVE AGREEMENT FOR THE SALE OF JEVCO INSURANCE COMPANY

Kingsway Financial Services Inc. has entered into a definitive purchase agreement with Westaim Corp. pursuant to which, subject to the satisfaction of certain standard closing conditions, including receipt of the approval of the Minister of Finance (Canada), the company will sell all of the issued and outstanding shares of Jevco Insurance Co. to Westaim for a total purchase price of approximately 94.5 per cent of the book value of Jevco as at Dec. 31, 2009, subject to adjustments. Prior to the closing of the transaction, and subject to insurance regulatory approval, the company will also receive a dividend of up to $40-million from Jevco. The approval of Westaim shareholders will also be required in connection with associated financing activities. Completion of the transaction is not conditional on financing.

Bullboard Posts