On February 6, 2013, Jovian Capital Corporation (TSX: JOV) announced that its subsidiary, Jovian Asset Management, had acquired all of the remaining outstanding voting shares of Leon Frazer & Associates Inc. for approximately $3.5 million.
On February 6, 2013, Jovian Capital Corporation (TSX: JOV) announced that it had, through its subsidiary Jovian Asset Management Inc., acquired all of the remaining outstanding voting shares of Leon Frazer & Associates Inc. Jovian purchased a controlling interest in Leon Frazer in 2004 and purchased the remaining 16% for approximately $3.5 million, pursuant to the terms of an agreement entered into in connection with the 2004 transaction. As part of the transaction, Leon Frazer will create and issue non-voting shares to be issued to key senior employees as incentive compensation. Leon Frazer provides investment management services to high net worth individuals, institutions, trusts, and foundations and has approximately $2.1 billion in client assets under management. Jovian acquires, creates, and grows financial services companies primarily in the wealth management and asset management sectors. The Jovian group of companies oversees approximately $5.2 billion in client assets under management or advisement.
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