GBL to acquire a 5% stake in Sagard for $33m.

GBL, a Belgian holding company, agreed to acquire a 5% stake in Sagard, a Canadian private equity fund, for $33m. “Based on their work, and in light of the strategy pursued by GBL, the independent Directors have determined that the transaction and the commitment will not result in any manifestly abusive damage or prejudice to GBL. The Transaction and the Commitment align with GBL’s investment strategy and attest to the quality of the Sagard platform. The valuation is supported by independent analysis, and the management team is significantly invested in the business,” GBL, Board of Directors.