Ring International Holding acquires Maricann for C$12.4 million and certain other property from Wayland Group

On April 23, 2020, Ring International Holding AG (“Ring”) completed its indirect acquisition all of the issued and outstanding shares of Wayland Group Corp.’s subsidiary, Maricann Inc. (“Maricann”), and certain other property of Wayland for a purchase price of up to CAD $12,400,000 (the “Transaction”). The closing of the Transaction was subject to certain conditions precedent, including receipt of an approval and vesting order from the Court pursuant to Wayland’s proceedings under the Companies’ Creditors Arrangement Act (Canada) Fasken advised Ring International Holding AG with a team led by Barbara Miller and including Stuart Brotman (Insolvency Lead), Ian Campbell (Labour, Employment and Human Rights), Ryan Schnier (Corporate and Transactional Work), and Rosa DeFilippis (Real Estate) and Dan Richer (Insolvency).