Canaccord Forms Partnership to Acquire 50% Equity Interest in BGF Equities, Expands Operations into Australia, Hong Kong
Toronto-based financial services firm, Canaccord Financial Inc., announced that it has formed a partnership with BGF Equities of Australia, which will result in an expansion of Canaccord’s operations into Australia and Hong Kong. Canaccord has agreed to purchase a 50% interest in BGF Capital Group Pty Ltd, for aggregate consideration of approximately C$41.5 million. BGF Capital Group Pty Ltd is boutique equities advisory firms in Australia, with 40 employees and offices in Melbourne, Sydney and Hong Kong. The transaction is expected to close in the calendar fourth quarter, at which point BGF Equities will be re-branded Canaccord BGF.