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AGT Food and Ingredients Announces $190 Million Investment by Fairfax

Published: 07/25/2017

Team: Kenton Rein, Neil K. Harris, Jeffrey P. Roy, Jamie Litchen, Douglas Richardson

On July 25, 2017, AGT Food and Ingredients Inc.  announced that it has entered into a letter agreement pursuant to which Fairfax Financial Holdings Limited, through certain subsidiaries (collectively, “Fairfax”), will make an investment of $190 million in AGT. Pursuant to the agreement, AGT will issue 5.375% 99-year preferred securities and up to 5,714,286 warrants to Fairfax. The transaction is expected to close mid-August pending regulatory approvals and other conditions.
Cassels Brock is acting for AGT with a deal team that includes Kenton Rein and Neil Harris (Financial Services), Jeff Roy and Jamie Litchen (Securities), and Doug Richardson (Tax).