On October 3, 2016, GMP Capital Inc. completed its acquisition of FirstEnergy Capital Corp.
GMP Capital Inc. (“GMP”)’s acquisition of FirstEnergy Capital (“FirstEnergy”) was a part stock deal whereby GMP issued 11,161,671 GMP common shares to FirstEnergy shareholders, a large portion of which will vest over a four-year period, with the rest of the consideration in the form of a five-year promissory note. After the merger, FirstEnergy merged into GMP’s energy group and continued on under the name GMP FirstEnergy. The group is led by FirstEnergy CEO John Chambers.
GMP is a global financial services firm based out of Toronto, Canada. GMP FirstEnergy will focus on the global energy sector with an emphasis on oil and gas assets.
To read the press release: please click here.