Jovian Capital will sell its 60% stake in its exchange-traded fund (ETF) business to South Korea’s Mirae Asset Global Investments, The Wall Street Journal reports. The Canadian asset management firm is seeking to raise around $93.9 million from the sale.
The sale includes Toronto-based Jovian’s 58% stake in BetaPro Management, its Horizon Exchange Traded Funds business and other assets. CIBC World Markets has been appointed to advise on the deal, adds Bloomberg.
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