Each week, we provide an overview of insider trading, investments in local businesses and news from publicly traded companies.
Desjardins Group announced this week a reinvestment of an unspecified value in French private equity manager Siparex Associés. The financial cooperative had already been a shareholder of Siparex since 2007. Siparex invests mainly in Europe, but since 2018, the firm has been managing the Transatlantic Fund with Desjardins, which is aimed at French and Quebec SMEs. Siparex has approximately €3 billion ($4 billion) in assets under management.
GWL Realty Advisors, a subsidiary of insurer Canada Life, announced this week that it has purchased six industrial buildings located in Varennes and Chambly. Built between 2012 and 2021, the buildings have a total area of nearly 40,000 square meters. GWL's industrial portfolio is now over 1.5 million square meters and worth over $5 billion. Canada Life is controlled by the Montreal conglomerate Power Corporation.
Montreal-based studio Bravo Ready recently closed its first round of funding, raising $3.9 million. Justin Kan, co-founder of Twitch, is among the investors. Founded earlier this year by Evan Ryer, the start-up is developing BR1: Infinite Royale, a video game based on blockchain technology. The game notably allows players to earn cryptocurrencies for each character killed.
The Laval-based pharmaceutical company Bellus has just closed a share issue that allowed it to raise US$153 million (CA$197 million). On the stock market, Bellus' stock has risen nearly 25% since the start of 2022. The company founded by Francesco Bellini is trying to develop an effective drug against refractory chronic cough.
The British firm Cinesite has acquired the Montreal studio L'Atelier Animation for an undisclosed sum. Founded in 2012, the company notably produced the animated film for children Ballerina. It has around 100 employees. For its part, Cinesite has been present in Montreal since 2014.
Lucie Chabot, who has served on the board of directors of Quincaillerie Richelieu since 2020, bought nearly $75,000 worth of shares in the Montreal company last week. Richelieu's stock has lost 15% of its value since the start of the year. Ms. Chabot is a former executive of Sports Experts and Sail Plein Air.
