India, July 27 -- First National Financial Corp. (FN.TO) announced on Sunday that it has entered into an agreement with Regal Bidco Inc., a newly formed acquisition vehicle controlled by private equity funds managed by Birch Hill Equity Partners Management Inc. and Brookfield Asset Management. Under the terms of the agreement, Regal Bidco will acquire all outstanding common shares of the Company-excluding the Rollover Shares-for C$48.00 per share in cash. The Purchase Price implies an aggregate total equity value of approximately C$2.9 billion, inclusive of the Rollover Shares.
As part of the transaction, the Company's founders, Stephen Smith and Moray Tawse (collectively with their associates and affiliates, the "Rolling Shareholders"), w...