Mubadala to take Canada's CI Financial private

(Reuters) -Mubadala Capital, Abu Dhabi's sovereign wealth fund, will take Canadian asset and wealth manager CI Financial private in a deal that values the company at C$4.7 billion ($3.36 billion).

Mubadala will pay C$32 per share for the company, representing a little over 33% upside to the Canadian firm's Friday close.

"Mubadala Capital invests with a long-term outlook and represents long-term capital – providing stability and certainty for CIʼs clients and employees," CI's CEO Kurt MacAlpine, .

($1 = 1.3972 Canadian dollars)

Source: Investing.com