Mubadala Capital, the alternative asset management arm of Abu Dhabi's Mubadala Investment Company, has agreed to take CI Financial Corp. private in a deal valued at approximately CAD 4.7 billion ($3.36 billion). The acquisition price of CAD 32 per share represents a significant premium of 33% over CI Financial's closing price prior to the announcement and 58% over its 60-day volume-weighted average. This transaction is expected to enhance Mubadala's portfolio in the asset management sector, particularly in North America, where CI Financial operates extensively.

CI Financial, a diversified global asset and wealth management company, manages over CAD 518 billion in assets and operates primarily in Canada, the U.S., and Australia. The acquisition will allow Mubadala to leverage CI's established market presence and expertise in wealth management, potentially driving growth and operational efficiencies. The deal is subject to regulatory approvals and customary closing conditions, which could impact the timeline for integration and operational strategies post-acquisition.