Winnipeg-based Great-West Lifeco Inc. (GWL) announced on Thursday that its Irish subsidiary, Irish Life Group Ltd., has completed the previously announced acquisition of a strategic holding in Invesco Ltd. (Ireland). Terms of the transaction were not disclosed.

“We are pleased to extend our position further with this strategic investment in Invesco,” said Paul Mahon, president and CEO, GWL, in a statement.

The transaction is expected to be earnings accretive, although not material to GWL’s financial results.

Invesco Ireland, established in 1991, is an independent financial consultancy.