Investor Presentaiton
2020 Acquisitions, Divestitures and Financing Activity
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On Aug. 4, 2020, Irish Life completed the sale of Irish Progressive Services International Limited (IPSI)
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On Aug. 4, 2020, the Company announced the proposed sale of GLC Asset Management Group Ltd. (GLC) to Mackenzie Financial
Corporation (transaction completed Dec. 31, 2020)
On Aug. 17, 2020, Empower Retirement completed the previously announced acquisition of Personal Capital
On Sept. 8, 2020, Empower Retirement announced that it had reached an agreement to acquire the retirement services business of
Massachusetts Mutual Life Insurance Company (MassMutual) (transaction completed Dec. 31, 2020)
On Sept. 17, 2020, the Company announced that Mackenzie and Lifeco will jointly acquire a non-controlling interest in Northleaf Capital
Partners Ltd. through an acquisition vehicle 80% owned by Mackenzie and 20% owned by Lifeco (transaction completed Dec. 31, 2020)
On Sept. 28, 2020, Empower Retirement announced an agreement to acquire the retirement business of Fifth Third Bank
Financing
Activities
Lifeco issued $600m Senior Debentures in May and $500m Senior Debentures in July. Proceeds from the issuances were used to repay Lifeco
$500m Senior Debentures in August, and the remainder was used for general corporate purposes
On August 12, 2020 Great-West Lifeco US Finance 2020, LP issued US$500m, 5-year senior notes to fund the acquisition of Personal Capital
On September 17, 2020 Empower Finance 2020, LP issued three tranches of senior notes totaling US$1.5B to fund the acquisition of
MassMutual's retirement services business
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