MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, January 11, 2008 Desmarais Unloads Power Stock Most Canadians know the name Desmarais, but few Americans do and those in the fund industry had better. Ex-Power Corporation of Canada chairman Paul Desmarais has sold C$242.1 million ($237.5 million) of company stock for "estate planning" purposes, Bloomberg reports. Desmarais, 81, may have caused a small ripple in Power's stock price, shares fell 29 cents on the Toronto Stock Exchange as of 9:48 am this morning. Desmarais' two sons are co-CEOs of Power Corp, owner of Power Financial, whose Great-West Lifeco unit purchased Putnam Investments last year. Printed from: MFWire.com/story.asp?s=17105 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |