07:29 AM EDT, 07/28/2025 (MT Newswires) -- iA Financial ( IAFNF ) on Monday said it will buy RF Capital ( GMPFF ) for $20 per share in cash, a 107% premium to RF's closing price of $9.65 on the Toronto Stock Exchange on July 25.

The transaction, valued at $597 million, includes a $370 million valuation for RF Capital Capital's fully diluted equity and $227 million in financial obligations, iA Financial ( IAFNF ) said.

The acquisition is expected to close in the fourth quarter, and will be funded by iA cash on hand. The deal is expected to reduce iA's solvency ratio by about 6 percentage points, and to be neutral to core earnings in the first year and to be accretive to core EPS of at least $0.15 in the second year, a statement said.

Richardson Financial Group, which owns 44% of RF Capital ( GMPFF ), and the directors and senior officers of RF Capital ( GMPFF ) support the transaction.

RF Capital ( GMPFF ) is an independent wealth management company based in Canada, with more than $40 billion in assets under administration. The transaction brings total iA Wealth's advisory network assets under administration to about $175 billion.

''This acquisition aligns with iA's unique model, . . . highlighting our strategic approach to sustainable growth -- by expanding our reach in target segments and enhancing our scalable distribution model," said Denis Ricard, chief executive officer.

iA Financial ( IAFNF ) closed up $1.20, to $144.39, on the Toronto Stock Exchange, on Friday.