ACM Advisors: EQB to acquire 75% interest in ACM Advisors

EQB (OTCPK:EQGPF) said it has entered into agreements with ACM Advisors to acquire a 75% interest in the alternative asset manager in a cash and share transaction. The deal will bring in ~$5B in assets under management, and EQB will also garner capabilities to serve a new set of Canadian customers. EQB expects the acquisition to be accretive to earnings per share in the first year. ACM will operate as an independent unit of EQB, and the closing is expected prior to the end of calendar 2023