Duo Bank of Canada announced on January 5 that it had acquired all of the outstanding shares of Fairstone Financial Holdings Inc., an institution offering lending solutions to borrowers.
Montreal-based Fairstone Financial Holdings has assets with a consolidated value of $ 3 billion. The transaction includes all of Fairstone Financial’s businesses and subsidiaries, as well as its approximately 1,400 employees. Fairstone Financial will continue to operate its current brand, the joint statement added.
Toronto-based Bank Duo worked in partnership with Stephen Smith, Centerbridge Partners, LP and the Ontario Teachers’ Pension Plan Board.
Osler, Hoskin & Harcourt acted as an advisor for the Ontario Teachers’ Pension Plan with a team of My John Groenewegen (Business Law), Richard Borins (financial services), Laura Money (dispute) and Patrick marley (taxation).