Ross McDougall, CEO of McDougall Insurance and Financial, announced Tuesday his Belleville-based firm has entered into an agreement to acquire Drayden Insurance Ltd. (“Drayden”) of Alberta, Canada.
McDougall Insurance Brokers Limited ("McDougall"), a subsidiary of Definity Financial Corporation (TSX: DFY), has announced that it has entered into a definitive agreement to acquire 100% of Drayden Insurance Ltd. ("Drayden") for $208 million, subject to closing and post-closing adjustments. The transaction will be funded by Definity, through McDougall, using a combination of excess capital and debt. After accounting for all related transactions, Definity's ownership interest in McDougall will i