The Western Investment Company of Canada Ltd (TSE:WI) has released an update.
The Western Investment Company of Canada Limited has announced a strategic move, with SM2 Capital Partners agreeing to sell its 28.45% stake in Fortress Insurance Company, valued at $5.2 million, for shares in Western. This deal is part of a larger transaction that aims to transform Western into an insurance and investment holding company, with plans to grow Fortress to $100 million in annual premiums by 2028. The transaction, supported by Paul Rivett, has already secured agreements to acquire nearly 100% of Fortress, signifying a major consolidation in the insurance sector.
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