Power Financial Corporation completes purchase of Great-West Lifeco Inc. subscription receipts

Power Financial Corporation completes purchase of Great-West Lifeco Inc. 
subscription receipts 
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION 
IN THE UNITED STATES/ 
Readers are referred to the section entitled "Forward-Looking Statements" at 
the end of this release. 
MONTREAL, March 12, 2013 /CNW Telbec/ - Power Financial Corporation (TSX: PWF) 
announced today that it has completed, through a wholly owned subsidiary, the 
purchase of 21,410,000 subscription receipts of its subsidiary, Great-West 
Lifeco Inc. (Lifeco), from treasury by way of private placement at a price of 
$25.70 per subscription receipt, representing $550,237,000 in total. The 
private placement was announced on February 19, 2013 in conjunction with the 
announcement by Lifeco of its acquisition of Irish Life Group Limited (Irish 
Life) and its $1.25billion (48,660,000 subscription receipts) total issuance 
of subscription receipts by public offering and private placement to 
affiliates. 
Concurrently, IGM Financial Inc. (IGM), a subsidiary of Power Financial, 
purchased 1,950,000 subscription receipts of Lifeco (representing $50,115,000) 
by way of private placement on the same terms, and Lifeco completed its 
prospectus offering of 25,300,000 subscription receipts (representing 
$650,210,000) to the public. 
Each subscription receipt entitles the holder to receive one common share of 
Lifeco upon Lifeco's completion of the proposed acquisition of Irish Life. If 
Lifeco does not acquire Irish Life, each subscription receipt will be 
cancelled and Power Financial will receive the purchase price paid plus 
interest. 
Power Financial owns approximately 44% of the subscription receipts issued by 
Lifeco. 
As at March 1, 2013, Lifeco reported that it had 950,981,200 common shares 
outstanding. Power Financial owns, together with IGM, approximately 72.1% of 
the common shares of Lifeco representing approximately 65% of the votes 
attached to all voting securities of Lifeco. 
Upon conversion of all of the subscription receipts into Lifeco common shares, 
Power Financial will own, together with IGM, 709,305,452 common shares of 
Lifeco representing approximately 70.96% of Lifeco's then outstanding common 
shares. Power Financial and its subsidiaries would continue to own, in the 
aggregate, voting securities to which are attached approximately 65% of the 
votes attached to all voting securities of Lifeco. 
Power Financial holds the subscription receipts and Lifeco common shares for 
investment purposes and, in accordance with applicable securities laws, may 
increase or decrease its investment in Lifeco depending on market conditions 
and then relevant factors. 
Power Financial Corporation is a diversified management and holding company 
that has interests, directly or indirectly, in companies in the financial 
services sector in Canada, the United States and Europe. It also has 
substantial holdings in a diversified industrial group based in Europe. Power 
Financial Corporation is a member of the Power Corporation group of companies. 
Not for distribution to U.S. news wire services or dissemination in the United 
States. 
Forward-Looking Statements 
Certain statements in this News Release, other than statements of historical 
fact, are forward-looking statements based on certain assumptions and reflect 
the Corporation's current expectations, or with respect to disclosure 
regarding the Corporation's public subsidiaries, reflect such subsidiaries' 
disclosed current expectations. Forward-looking statements are provided for 
the purposes of assisting the reader in understanding the Corporation's 
financial performance, financial position and cash flows as at and for the 
periods ended on certain dates and to present information about management's 
current expectations and plans relating to the future and the reader is 
cautioned that such statements may not be appropriate for other purposes. 
These statements may include, without limitation, statements regarding the 
operations, business, financial condition, expected financial results, 
performance, prospects, opportunities, priorities, targets, goals, ongoing 
objectives, strategies and outlook of the Corporation and its subsidiaries, as 
well as the outlook for North American and international economies for the 
current fiscal year and subsequent periods. Forward-looking statements include 
statements that are predictive in nature, depend upon or refer to future 
events or conditions, or include words such as "expects", "anticipates", 
"plans", "believes", "estimates", "seeks", "intends", "targets", "projects", 
"forecasts" or negative versions thereof and other similar expressions, or 
future or conditional verbs such as "may", "will", "should", "would" and 
"could". 
By its nature, this information is subject to inherent risks and uncertainties 
that may be general or specific and which give rise to the possibility that 
expectations, forecasts, predictions, projections or conclusions will not 
prove to be accurate, that assumptions may not be correct and that objectives, 
strategic goals and priorities will not be achieved. A variety of factors, 
many of which are beyond the Corporation's and its subsidiaries' control, 
affect the operations, performance and results of the Corporation and its 
subsidiaries and their businesses, and could cause actual results to differ 
materially from current expectations of estimated or anticipated events or 
results. These factors include, but are not limited to: the impact or 
unanticipated impact of general economic, political and market factors in 
North America and internationally, interest and foreign exchange rates, global 
equity and capital markets, management of market liquidity and funding risks, 
changes in accounting policies and methods used to report financial condition 
(including uncertainties associated with critical accounting assumptions and 
estimates), the effect of applying future accounting changes, business 
competition, operational and reputational risks, technological change, changes 
in government regulation and legislation, changes in tax laws, unexpected 
judicial or regulatory proceedings, catastrophic events, the Corporation's and 
its subsidiaries' ability to complete strategic transactions, integrate 
acquisitions and implement other growth strategies, and the Corporation's and 
its subsidiaries' success in anticipating and managing the foregoing factors. 
The reader is cautioned to consider these and other factors, uncertainties and 
potential events carefully and not to put undue reliance on forward-looking 
statements. Information contained in forward-looking statements is based upon 
certain material assumptions that were applied in drawing a conclusion or 
making a forecast or projection, including management's perceptions of 
historical trends, current conditions and expected future developments, as 
well as other considerations that are believed to be appropriate in the 
circumstances, including that the list of factors in the previous paragraph, 
collectively, are not expected to have a material impact on the Corporation 
and its subsidiaries. While the Corporation considers these assumptions to be 
reasonable based on information currently available to management, they may 
prove to be incorrect. 
Other than as specifically required by applicable Canadian law, the 
Corporation undertakes no obligation to update any forward-looking statement 
to reflect events or circumstances after the date on which such statement is 
made, or to reflect the occurrence of unanticipated events, whether as a 
result of new information, future events or results, or otherwise. 
Additional information about the risks and uncertainties of the Corporation's 
business and material factors or assumptions on which information contained in 
forward-looking statements is based is provided in its disclosure materials, 
including its most recent Management's Discussion and Analysis and Annual 
Information Form, filed with the securities regulatory authorities in Canada 
and available at www.sedar.com. 
Mr. Stéphane Lemay Vice-President, General Counsel and Secretary 514-286-7400 
SOURCE: POWER FINANCIAL CORPORATION 
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CO: POWER FINANCIAL CORPORATION
ST: Quebec
NI: FIN INS MNA FIN  
-0- Mar/12/2013 13:31 GMT
 
 
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