Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, May 22, 2020

Article Excerpt

TRISURA GROUP LTD., $49.00, symbol TSU on Toronto, is a provider of higher-margin specialty insurance in three areas: Risk Solutions provides warranties for manufactured products; Surety Insurance guarantees that specific tasks are completed; and Corporate Insurance and Reinsurance offers policies to professionals to cover malpractice and defamation. Brookfield Asset Management Inc. (symbol BAM.A on Toronto) wholly owned Trisura until June 22, 2017. That’s when Brookfield spun off the company by handing its investors one Trisura share for every 170 Brookfield shares they held. On May 15, 2020, Trisura completed the sale of 1.29 million shares of its stock at $46.85 a share for a total of $60 million. In addition, it sold 160,100 shares of its stock in a private placement to Partners Value Investments LP (symbol PVF.UN on TSX Venture Exchange) for another $7.5 million in proceeds. Partners Value Investments owns a number of different investments including 9% of Brookfield Asset Management. In the quarter ended March 31, 2020, Trisura’s revenues jumped 108.8%,…

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