The Western Investment Company of Canada Ltd (TSE:WI) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.
For further insights into TSE:WI stock, check out TipRanks’ Stock Analysis page.