YMG Capital Management Inc. of Toronto has received approval to complete the previously announced sale of the company to Montreal-based Fiera Capital Management Inc.

Under the approved plan of arrangement, public shareholders of YMG will receive $3.25 in cash for each YMG common share.

The deal is expected to close on February 3.

Earlier today, the plan of arrangement was approved by the Ontario Superior Court of Justice following yesterday’s approval by 99.9% of the total votes cast at a special meeting of YMG shareholders and 99.8% of the votes cast excluding certain senior management shareholders of YMG.

It is expected that YMG common shares will cease trading on the TSX on February 3, and will be delisted shortly thereafter.

With assets under management of approximately $15.4 billion, YMG is a full service investment manager providing investment counselling to pension funds, financial institutions, foundations and high net worth individuals.

With more than $11 billion in assets under management, Fiera Capital focuses on delivering competitive and tailored investment solutions to its diverse clientele, which is composed largely of institutional investors, mutual funds, religious organizations and high net worth investors.