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Royal Bank of Canada
Symbol RY
Shares Issued 1,441,532,106
Close 2014-08-27 C$ 80.98
Market Cap C$ 116,735,269,944
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Globe says Tim Hortons investors count their winnings

2014-08-28 08:13 ET - In the News

See In the News (C-THI) Tim Hortons Inc

The Globe and Mail reports in its Thursday edition Tim Hortons investors have seen some hefty returns since news of a tie-up with Burger King was announced this week. The Globe's Jacqueline Nelson writes among the winners are TD Bank, which holds a 6.8-per-cent share of the company through various funds. It made more than $177.2-million between Friday and Tuesday. Royal Bank of Canada pocketed $162.3-million in the same time through its funds. Asset manager Jarislowsky Fraser Ltd. gained $129.8-million. Also in the chips is Brazilian private equity group 3G Capital Inc. The investor group bought the then-struggling Burger King chain in 2010 for $4-billion (U.S.). 3G's interest is now worth about $7.7-billion (U.S.). The group could further benefit financially from the way the transaction has been structured. Under the proposed deal, 3G will convert its Burger King interest into units in a new Toronto Stock Exchange-listed limited partnership. Those units must be held for one year before being converted into common shares in the new company. That structure may mean the units would not immediately be subject to capital gains taxes -- just one more benefit in a deal that has already proven beneficial to so many.

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