By James Langton

(December 18 – 18:00 ET) – Insurcom Financial Corp. has acquired approximately 24% of Georgia Pacific Securities Corp.

Edmonton-based Insurcom says that it has completed, subject to regulatory approval, the acquisition of approximately a 24% minority interest in Vancouver’s Georgia Pacific.

The possible acquisition of Georgia Pacific by Insurcom was reported early in the year by the Vancouver Sun, and the firm said in September that it was in talks with Georgia Pacific shareholders to acquire 100% of the firm. It also announced its intention to acquire Toronto’s CJ Elbourne Securities Inc. in the spring, although it appears that deal did not proceed.

The firm says it is waiting for Finance Minister Paul Martin to go ahead with proposed amendments to the Financial Institutions Act. “The proposed amendments are key to the corporations’ future acquisitions and development of its business plan.” However, it doesn’t reveal what those plans entail.
-IE Staff