Desjardins reinvests in a French company

Each week we provide an overview of insider trading, investing in local businesses and news from public companies.

A reinforced presence at Siparex Associés

Desjardins Group announced this week a reinvestment of an unspecified asset in French private equity manager Siparex Associés. The financial cooperative has been a shareholder of Siparex since 2007. Siparex invests mainly in Europe, but since 2018 the company has been managing the Transatlantic Fund with Desjardins, aimed at French and Quebec SMEs. Siparex has approximately 3 billion euros ($4 billion) in assets under management.

Power Corporation buys on the South Shore

GWL Realty Advisors, a subsidiary of insurer Canada Life, announced this week the purchase of six industrial buildings in Varennes and Chambly. The buildings, constructed between 2012 and 2021, have a total area of ​​almost 40,000 square meters. GWL’s industrial portfolio is now over 1.5 million square feet and is valued at over $5 billion. Canada Life is controlled by Montreal conglomerate Power Corporation.

Bravo Ready raises $3.9 million

Montreal 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 evolving BR1: Royally infinite, a video game based on blockchain technology. Notably, the game allows players to earn cryptocurrencies for each character killed.

Bellus raises nearly $200 million

Laval-based pharmaceutical company Bellus just completed a stock offering that allowed it to raise $153 million (C$197 million). In the stock market, Bellus stock is up almost 25% since the beginning of 2022. That from Francesco Bellini is trying to develop an effective drug for refractory chronic cough.

L’Atelier Animation Studio sold

British company Cinesite has acquired Montreal studio L’Atelier Animation for an undisclosed sum. Founded in 2012, the company produced in particular the animated film for children ballerina. It has around 100 employees. For its part, Cinesite has been present in Montreal since 2014.

She buys Richelieu

Lucie Chabot, who has served on the board of Quincaillerie Richelieu since 2020, bought nearly $75,000 worth of stock in the Montreal-based company last week. The Richelieu stock has lost 15% of its value since the beginning of the year. Ms. Chabot is a former Director of Sports Experts and Sail Plein Air.

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