The acquisition of Canadian asset manager NexGen Financial Corp. by Paris-based Natixis Global Asset Management, S.A. has been completed.

Natixis says its deal to acquire all of the outstanding common shares of NexGen for $7.25 in cash per common share has now closed. The deal, which values NexGen at approximately $35 million was approved by NexGen shareholders at a special meeting on Dec. 17; and the Ontario Superior Court has also given its blessing to the arrangement. As a result, the firm’s shares will be de-listed from the TSX Venture Exchange.

Natixis says that NexGen will operate autonomously within the company, and that it will retain its existing senior management team. There are no immediate plans to make staffing changes or changes to the NexGen business model, which focuses on providing tax-efficient products, it says. Additionally, Natixis says that the deal will expand NexGen’s existing mutual fund platform, and expand the range of products available to investors.

“Canada is an outstanding market for asset managers,” said John Hailer, chief executive officer of Natixis in the Americas and Asia. “NexGen does business with more than 1,600 financial advisors and more than 100 dealers throughout Canada, and we look forward to building on this strong foundation — bringing sophisticated, customized solutions to investors seeking to achieve their goals through durable portfolio construction.”

“We are pleased that the transaction is complete, and we are eager to begin working as a part of the Natixis team,” said Abe Goenka, NexGen co-CEO. “This is a great opportunity to work with some of the most respected asset managers in the world to provide even better results for our current clients and increase our capabilities in an extremely competitive marketplace.”