(November 10 – 16:25 ET) –
BLC Securities, the
brokerage subsidiary of
Laurentian Bank, has signed
a memorandum of understanding to
purchase Tassé &
Associés Limitée.

Based on the latest audited
financial statements available as
at August 31, 1999, the purchase
price would be approximately $11
million.

“We will soon enjoy a number of
advantages resulting from this
transaction, such as a force of
over 100 Québec-based
advisors and the expansion of
BLC Securities’ retail services to
more than 12,000 clients,” Bernard
Piché, president, BLC
Securities said in a prepared
statement.

The transaction is subject to
certain conditions including
approval by regulatory authorities,
a due diligence review and the
signing of a purchase agreement
between the parties. The
transaction is scheduled to close
in January 2000.

-IE Staff

For more please see: