The Co-operators acquires Smart Employee Benefits
Co-operators Financial Services Limited, a wholly owned subsidiary of The Co-operators , has acquired Smart Employee Benefits , a public health benefits and technology company.
The Co-operators acquired, indirectly through its wholly owned subsidiary 1000391399 Ontario Inc., all of the issued and outstanding common shares of SEB (“SEB Shares”), other than those it already owned, at a purchase price of $0.30 in cash per SEB Share. The Transaction, which was announced on January 3, 2023, was approved by SEB shareholders at a special meeting held on February 21, 2023 and SEB obtained a final order from the Ontario Superior Court of Justice (Commercial List) in respect of the Transaction on February 23, 2023.
As a result of the Transaction, the SEB Shares will be delisted from the TSX Venture Exchange. It is also expected that the SEB Shares will be withdrawn from being quoted for trading on the OTCQB concurrently or shortly thereafter, and that SEB will apply to cease to be a reporting issuer in all of the provinces of Canada in which it is a reporting issuer.