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CTV News
15 minutes ago
- CTV News
Birch Hill, Brookfield buying First National Financial in $2.9-billion deal
Stephen Smith, President and CEO of First National Financial Corp. addresses shareholders at the company's annual general meeting in Toronto. THE CANADIAN PRESS/Nathan Denette TORONTO — First National Financial Corp. says it has agreed to be sold in a roughly $2.9 billion deal. The mortgage firm says funds managed by Birch Hill Equity Partners Management Inc. and Brookfield Asset Management are the buyers though a newly-formed acquisition vehicle. First National Financial says founders Stephen Smith and Moray Tawse will each indirectly maintain about a 19 per cent interest in the company. It says the purchase price of $48 a share represents a 15.2 per cent premium to the average of the past 30 trading days and is above the 52-week high for the company, though it is below its peak of over $52 a share in 2021. First National Financial says the deal came after a strategic review and that it offers compelling value and liquidity to shareholders. Founders Smith and Tawse respectively hold about 37.4 per cent and 34 per cent of outstanding shares, of which they will sell about two-thirds to the buyers and exchange the rest into ownership interests. This report by The Canadian Press was first published July 28, 2025.
Cision Canada
15 minutes ago
- Cision Canada
Équité Association Releases First Half 2025 Auto Theft Trend Report: National Decline Signals Progress, Continued Vigilance Crucial as Criminal Tactics Evolve Français
TORONTO, July 28, 2025 /CNW/ - Équité Association, the national authority on insurance crime and fraud prevention, today released its First Half of 2025 Auto Theft Trend Report, revealing a 19.1% national decrease in the theft of private passenger vehicles, compared to the same period in 2024. "Canada is a safer place today than it was at the height of the auto theft crisis," says Terri O'Brien, President and Chief Executive Officer of Équité Association. "Auto theft returning to pre-crisis levels demonstrates the effectiveness of Équité's unified voice on behalf of our members. Led by Public Safety Canada, with solution-focused recommendations from Équité, the National Action Plan on Combatting Auto Theft has been instrumental in implementing comprehensive strategies to protect Canadians from the organized crime behind the auto theft crisis. Minimizing the impact of auto theft on honest, hardworking Canadians was a key goal of the insurance industry, and the report data shows we are making meaningful progress towards that goal." The report notes significant decreases in Ontario (-25.9%) and Quebec (-22.2%), provinces that previously experienced the highest auto theft rates from 2021-2023. * Compared to the same period of 2024 "Canadians have endured the significant impacts of vehicle crime, and while these first half of 2025 numbers are encouraging, the fight is far from over," says Bryan Gast, National Vice President, Investigative Services. "Équité recently participated on the UL Standards & Engagement Advisory Committee to collaboratively shape and publish the first harmonized Canada-US Standard for Vehicle Theft Deterrent Equipment and Systems. The next step is to put this new standard into action to prevent vehicles from being stolen in the first place and reduce auto theft on both sides of the border." The report also highlights concerns about evolving criminal strategies. Équité investigators have observed a shift towards criminals stealing vehicles destined for chop shops and re-VINs, hindering recovery efforts. Équité remains committed to enhancing its investigative expertise and technology to make a meaningful impact on combatting insurance crime and protecting honest, hardworking Canadians. About Équité Association As the national authority on insurance crime and fraud prevention, Équité Association is a not-for-profit organization supporting Canadian property and casualty (P&C) insurers. Équité combats the insurance crime problem that takes advantage of vulnerable Canadians by deploying advanced analytics, intelligence best practices, and coordinated investigations. Delivering improved service and fraud analytics for vehicle, property, and cargo recovery to its members, Équité collaborates with law enforcement, partners and industry organizations to protect Canadians against exploitation.
Globe and Mail
15 minutes ago
- Globe and Mail
Purpose Investments Inc. Announces Final July 2025 Distribution Rate for Purpose High Interest Savings Fund, Purpose US Cash Fund, Purpose Cash Management Fund, and Purpose USD Cash Management Fund
TORONTO, July 28, 2025 (GLOBE NEWSWIRE) -- Purpose Investments Inc. announced today the final July 2025 distribution rates for Purpose High Interest Savings Fund, Purpose US Cash Fund, Purpose Cash Management Fund, and Purpose USD Cash Management Fund. The following table reflects the final distribution amounts for the month of July. Ex-distribution date is July 29, 2025. Open-End Fund Ticker Symbol Final distribution per unit Record Date Payable Date Distribution Frequency Purpose USD Cash Management Fund – ETF Units MNU.U US $ 0.3866 07/29/2025 08/05/2025 Monthly Purpose Cash Management Fund – ETF Units MNY $0.2451 07/29/2025 08/05/2025 Monthly Purpose High Interest Savings Fund – ETF Units PSA $0.1184 07/29/2025 08/05/2025 Monthly Purpose US Cash Fund – ETF Units PSU.U US $ 0.3854 07/29/2025 08/05/2025 Monthly About Purpose Investments Inc. Purpose Investments Inc. is an asset management company with more than $26 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company. For further information, please contact: Keera Hart 905-580-1257 Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
