First Metro Investment Corp. on Wednesday signed a Deed of Absolute Sale with ATR Financial Holdings, Inc., following MET Holdings Inc.’s execution of an accession agreement transferring its rights to ATR Financial.
In October, First Metro agreed to sell 70 percent of its stake in First Metro Asset Management Inc. to MET Holdings for an undisclosed amount.
This transaction marks a significant step in First Metro’s ongoing portfolio restructuring. As part of the agreement, MET Holdings has transferred its rights to ATR Financial, which will now assume ownership of the FAMI shares.
The completion of the sale is expected to bolster ATR Financial’s position within the asset management sector.
First Metro’s decision to divest its stake in FAMI is in line with its strategy to streamline operations and focus on core business areas. ATR Financial, a prominent player in the financial services industry, is poised to continue growing FAMI’s portfolio and expanding its service offerings.
By divesting from FAMI, First Metro aims to allocate more resources to high-impact opportunities while ensuring the asset management firm’s continued development under ATR Financial’s stewardship.
