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On February 12, 2024, Globalive Capital Inc., led by Anthony Lacavera, agreed to acquire a 54% stake in Wealth One Bank of Canada, pending regulatory and government approvals. Wealth One, with over $600 million in assets, initially served the Chinese immigrant community but now plans to expand its services to all Canadians.
Lacavera aims to leverage the bank’s Schedule 1 license to introduce more competition in Canada’s banking sector, challenging the dominance of major banks. The deal faces regulatory scrutiny due to prior national security concerns tied to Wealth One, but Lacavera remains optimistic about resolving these challenges.
The transaction closed on July 7, 2025.
Parties
Company
Globalive WOB SPV LP
Bank
Wealth One Bank of Canada
Deal Type
Merger & AcquisitionIndustry
Banking/FinanceTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
07 July 2025