Mortgage Brokernews.ca reports Canada-based financial cooperative Desjardins Group has struck a deal to acquire a real estate holding like DuProprio, from UK-based hybrid estate agency Purplebricks Group plc.
The amount involved is around $60.5 million. The cooperative says the holding and its associated ventures have more than 500 employees in Ontario, Quebec, Manitoba and Alberta.
Desjardins is the top mortgage lender and home insurer in Quebec and is one of the top three property and casualty insurers in Ontario. Desjardins has agreed to retain the holding companies’ employees and honour existing contracts.