iA Financial buying RF Capital Group for $370 million

Bank skyscrapers are seen from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. THE CANADIAN PRESS/Adrien Veczan

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QUÉBEC - iA Financial Corp. Inc. says it has reached a deal to buy RF Capital Group Inc., which operates under the Richardson Wealth brand, for $370 million.

Quebec City-based iA Financial says it's paying $20 per common share in cash for the independent wealth management firm, while financial obligations including debt and preferred shares bring the total consideration to $597 million.  

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