Home Capital shareholders reject additional Berkshire investment

Berkshire Hathaway will not be making an additional equity investment in Home Capital after the proposal was rejected by the lender’s shareholders.

At a special meeting held Tuesday in Toronto, those holding more than 88% of Home Capital’s shares voted at the meeting (excluding Berkshire Hathaway’s) voted against the shareholder resolution.

“We respect the decision our shareholders made today. This decision is a clear message that the majority of our shareholders believe that Home Capital’s improved deposit inflows and liquidity position diminish the need for additional capital. We are pleased to still have Berkshire as our largest shareholder,” said Brenda Eprile, Chair of the Board.

The additional investment would have raised Berkshire’s stake in the Canadian lender to 38% from the current holding of around 20%.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Should government update pot rules to prohibit growing in rentals?