01:18 PM EDT, 06/21/2024 (MT Newswires) -- Fiera Capital ( FRRPF ) was up 5.2% after the company said Friday its senior management and a number of its board members paid a total $53 million to acquire all units of Fiera Capital LP and all shares of Fiera Holdings Inc.held by Desjardins Financial Holding, an indirect wholly-owned subsidiary of Federation des caisses Desjardins du Quebec.

There are no outside buyers involved in this transaction. The transaction involves units of Fiera LP and shares of Fiera Holdings representing about 7.3 million Class B voting shares and Class A subordinate voting shares of the company, 6.8% of the total outstanding shares.

The purchased securities were bought at a price equivalent to $7.25 per share. A portion of the total purchase price was financed through a credit facility of $20 million.

Fiera Capital ( FRRPF ) shares were last seen up $0.35 to $7.12 on the Toronto Stock Exchange.

Price: 7.11, Change: +0.34, Percent Change: +5.02