Housing Services Corporation acquires majority ownership of Encasa

2 minute read
29 February 2024

On February 29, 2024, Housing Services Corporation (HSC), Co-operative Housing Federation of Canada (CHF Canada), Co-operative Housing Federation of BC (CHF BC), and BC Non-Profit Housing Association (BCNPHA) completed previously announced changes in their ownership of Encasa Financial Inc. (Encasa) (the "Transaction").

The Transaction resulted in a change in control of Encasa. HSC and CHF Canada have increased their ownership of Encasa from 40% and 20%, respectively, to 60% and 40%, respectively, of the issued and outstanding shares of Encasa, and CHF BC and BCNPHA have ceased to be shareholders of Encasa.

Encasa is a private Ontario corporation having its head office in Toronto, Ontario, and is the investment fund manager and portfolio manager of the Encasa Investment Funds. HSC is a legislated non-profit corporation created by the Province of Ontario under the Housing Services Act (Ontario). CHF Canada is a co-operative association whose members are non-profit housing co-operatives in Canada and organizations that are closely linked with housing co-operatives.

Gowling WLG acted for HSC in this matter with a team that included Bryce Kraeker (securities regulatory); Duncan Snyder, Lidia Imbrogno and Natasha Barrett (corporate); and Jodey Therriault and Christina Pawliszyn (real estate).

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