Cassels Brock Acts for Westaim Corporation in Its Agreement to Sell JEVCO Insurance Company to Intact Financial Corporation
On May 2, 2012, The Westaim Corporation (“Westaim”) entered into a definitive agreement to sell all issued and outstanding shares of JEVCO Insurance Company (“JEVCO”) to Intact Financial Corporation (“Intact”). Intact has agreed to pay Westaim $530 million in cash for JEVCO. The transaction is expected to close in the fall of 2012.
Westaim is a financial holding company focused on the property and casualty insurance industry.
Cassels Brock acted as counsel to Westaim with a team that included Gordon Goodman (Financial Services), Brian Reeve (Financial Services), Chris Hersh (Competition) and Miho Felicio (Financial Services).
Westaim was also represented in this transaction by Heenan Blaikie LLP.