On August 28, 2025, Desjardins Group has signed a definitive agreement to acquire Guardian Capital Group Limited, a global investment management company, in a take-private, all-cash transaction valued at approximately C$1.67 billion, or C$68.00 per share. This strategic acquisition, expected to close in the first quarter of 2026 pending court, shareholder, and regulatory approvals, will combine Desjardins Global Asset Management and Guardian, resulting in a leading entity with approximately C$280 billion in assets under management and advisement. The transaction follows Desjardins’ 2023 acquisition of Guardian’s life insurance, mutual fund, and investment distribution networks, and further strengthens Desjardins’ position in the Canadian and international asset management markets. Guardian’s President and CEO, George Mavroudis, will lead the combined business, supported by Nicolas Richard, President and COO of Desjardins Global Asset Management, who will join the executive team.

Stikeman Elliott LLP is acting as legal advisor to Desjardins, with Desjardins Capital Markets serving as financial advisor. Guardian Capital Group is represented by BLG as legal counsel, with a multidisciplinary team led by Carlos Cerqueira. Torys is acting as counsel to the special committee of Guardian Capital with a team led by John Emanoilidis.

Major shareholders and directors of Guardian, collectively holding 32.06% of outstanding shares, have entered into support and voting agreements in favor of the transaction, ensuring significant backing for the deal.