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Greenstone mandates Goldman Sachs for review; CDPQ stake eyed
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Insurance seller and one-time initial public offering candidate Greenstone has launched a strategic review that will consider exit options for the groupâs private equity investor, Canadian giant CDPQ.
Street Talk can reveal Greenstoneâs owners, South African insurer Hollard and CDPQ, have hired investment bank Goldman Sachs to review the business and funding options for its next leg of growth.
Real Life Insurance is one of Greenstoneâs brands that sells insurance products. Â
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The review is expected to consider parties that could take CDPQâs place on Greenstoneâs share register. The Canadian pension fundâs private equity team acquired a 44 per cent stake in Greenstone in 2016, soon after Hollard cancelled plans to list its Australian business on the ASX-boards.
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