Dundee Corporation
TSX : DC.A
TSX : DC.PR.A
TSX : DC.PR.B

Dundee Corporation

January 06, 2011 17:54 ET

Dundee Corporation Shareholders Approve Sale of All of the DundeeWealth Inc. Shares Held by Dundee Corporation

TORONTO, ONTARIO--(Marketwire - Jan. 6, 2011) - Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee" or the "Company") is pleased to announce that at a special meeting of its shareholders held earlier today, holders of First Preference Shares, Series 1, First Preference Shares Series 2, Class A Subordinate Voting Shares and Class B Common Shares, which are all of the classes of shares of the Company entitled to vote at such meeting, voted overwhelmingly in favour of the sale of all of the Company's shares of DundeeWealth Inc. ("DundeeWealth") to The Bank of Nova Scotia ("Scotiabank"), pursuant to the terms of the previously announced bid and in accordance with the terms of the lock-up agreement. Of the 353,739,216 votes cast at the special meeting, 99.9% voted in favour of this transaction.

The sale of the DundeeWealth shares to Scotiabank is expected to close in the first quarter of 2011.

ABOUT DUNDEE CORPORATION

Dundee Corporation is an asset management company dedicated to wealth management, real estate and resources that, combined, reflect approximately $87 billion under management and administration. Its domestic wealth management activities are carried out through its 60% controlled subsidiary, DundeeWealth Inc. Dundee Corporation's real estate activities are conducted through its 70% owned subsidiary, Dundee Realty Corporation, which operates as an asset manager of commercial real estate with activities in a land and housing business in Canada and the United States. Resource activities are carried out through its wholly-owned subsidiary, Dundee Resources Limited. Asset management activities are carried out through Ned Goodman Investment Counsel Limited and Dundee Real Estate Asset Management (DREAM).       

Contact Information

  • Dundee Corporation
    Ned Goodman
    President and Chief Executive Officer
    (416) 365-5665
    or
    Dundee Corporation
    Lucie Presot
    Vice President and Chief Financial Officer
    (416) 365-5157