Am-Cam Électroménagers Inc. entered into an asset purchase agreement to acquire Corbeil Electrique Inc. from Sears Canada Inc. (OTCPK:SRSC.Q) on September 29, 2017. Am-Cam Électroménagers paid a deposit equal to 10% of the purchase price which will be adjusted against purchase price on closing. On closing CAD 5 million shall be held back for adjustments. The transaction is expected to result in the continued employment of at least 90% of Corbeil’s corporate employees as well as the continued employment of the employees located in its franchised locations. The transaction is subject to regulatory approvals, variety of closing conditions and approval of the Court. As of October 4, 2017, Sears received approval from court. As of October 6, 2017, the transaction is expected to close mid December 2017. Guy P. Martel, Danny Duy Vu, Dana Borshy, Olivier Godbout, Jordan Altman, Dominic Lapointe, Neil Bindman, Philippe Bernier, Guillaume Blais, Howard Rosenoff, Daniel Tsarevsky, Patrick Morin, Stephanie Weschler, Andrea Boctor, Haddon Murray, Patrick Corney, Jeffrey Brown and Megan MacDonald of Stikeman Elliott LLP acted as legal advisor and Patrick Khouzam of MNP Corporate Finance Inc. acted as financial advisor for Am-Cam Électroménagers. Marc'Wasserman and Tracy Sandler of Osler, Hoskin & Harcourt LLP acted as legal advisors for Sears Canada. Orestes Pasparakis and Virginie Gauthier of Norton Rose Fulbright Canada LLP acted as legal advisor for FTI Consulting Canada Inc, the monitor for the transaction. Joel Shaffer and Peter Block of Longview Communications Inc acted as PR advisors in the transaction.