{"id":79,"date":"2010-01-25T08:16:51","date_gmt":"2010-01-25T13:16:51","guid":{"rendered":"http:\/\/www.goodwoodfunds.com\/dev\/?p=79"},"modified":"2019-09-01T08:39:24","modified_gmt":"2019-09-01T12:39:24","slug":"westaim-corp-goodwood-fund-investment-and-related-entity-through-board-representation-acquires-jevco","status":"publish","type":"post","link":"https:\/\/www.goodwoodfunds.com\/index.php\/2010\/01\/25\/westaim-corp-goodwood-fund-investment-and-related-entity-through-board-representation-acquires-jevco\/","title":{"rendered":"Westaim Corp (Goodwood Fund investment and related entity through Board representation) acquires JEVCO"},"content":{"rendered":"\n<p><a rel=\"noreferrer noopener\" href=\"http:\/\/www.theglobeandmail.com\/globe-investor\/westaim-to-buy-jevco-stake-from-kingsway\/article1207728\/\" target=\"_blank\">Westaim to buy Jevco stake from Kingsway &#8211; The Globe and Mail.<\/a><\/p>\n\n\n\n<p>Kingsway Financial Services Inc. says it has agreed to sell its shares of Jevco Insurance Co. to Westaim Corp. of Calgary.<\/p>\n\n\n\n<p>The total estimated dollar-value of the transaction wasn&#8217;t disclosed in Monday&#8217;s announcement but Kingsway said it would receive 94.5 per cent of Jevco&#8217;s book value as of Dec. 31, subject to adjustments.<\/p>\n\n\n\n<p>In addition, prior to closing the sale, Kingsway would receive a $40-million dividend from Jevco.<\/p>\n\n\n\n<p>The deal requires approval from the Minister of Finance and Westaim shareholders.<\/p>\n\n\n\n<p>Westaim&#8217;s primary asset currently is its 75 per cent interest in Nucryst Pharmaceuticals Corp. (TSX:NCS).<\/p>\n\n\n\n<p>Based in Mississauga, Kingsway operates through a number of subsidiaries in the United States and Canada. Jevco is a federally regulated property and casualty insurance company<\/p>\n\n\n\n<p>Kingsway said it has conditional agreements to repurchase about $47-million (U.S.) of its outstanding debt if the Jevco deal is completed successfully.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Westaim to buy Jevco stake from Kingsway &#8211; The Globe and Mail. Kingsway Financial Services Inc. says it has agreed to sell its shares of Jevco Insurance Co. to Westaim Corp. of Calgary. The total estimated dollar-value of the transaction wasn&#8217;t disclosed in Monday&#8217;s announcement but Kingsway said it would receive 94.5 per cent of &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.goodwoodfunds.com\/index.php\/2010\/01\/25\/westaim-corp-goodwood-fund-investment-and-related-entity-through-board-representation-acquires-jevco\/\"> <span class=\"screen-reader-text\">Westaim Corp (Goodwood Fund investment and related entity through Board representation) acquires JEVCO<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-79","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/posts\/79","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/comments?post=79"}],"version-history":[{"count":7,"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/posts\/79\/revisions"}],"predecessor-version":[{"id":97,"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/posts\/79\/revisions\/97"}],"wp:attachment":[{"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/media?parent=79"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/categories?post=79"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.goodwoodfunds.com\/index.php\/wp-json\/wp\/v2\/tags?post=79"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}