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Power Corporation of Canada - Q2-2012 Earnings & Price Target Update

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Power Corporation (POW) is a diversified international management and holding company with interests in companies in the financial services, asset management, sustainable and renewable energy and communications. Approximately 40% of assets are from each of Canada and Europe, US-8% and China at 2%. Total assets as of Jun-30-2020 were $485B. The largest segment of Power Corp's.(POW) assets are from ownership interests in Great-West Life(GWO-TSX), London Life and Canada Life that were through Power Financial Corp.(PWF-TSX). Power Financial Corp.(PWF) was merged with Power Corp. in Q1-2020 by way of a share exchange. Approximately 70% of assets are in Power Financial Corp. with the balance held in Pargesa Holdings and Sagard Investments, private companies for European and Chinese holdings.

Power Corp.(POW) owned a 64.1% controlling interest in Power Financial Corp. (PWF-TSX) prior to the merger with Power Financial Corp. Power Financial Corp. owned 66.8% of Great-West Lifeco(GWO), 62.1% IGM Financial(IGM), and 27.8% of Pargesa Group(PARG-SWX ) and 100% of Sagard Holdings, as well as Power Energy Corp. and China Asset Management. Following the merger of Power Financial with Power Corp., Power Corp. owned 71% of Great-West Life, 66% IGM Financial, 100% of Power Corp. Renewable Energy, Wealth Simple- 84%, Pargesa Corp. 44.5% and China Asset Holdings 13.9%.

Great-West Lifeco operating subsidiaries are Great-West Life, Great-West Financial, London Life, Canada Life, and Putnam in the US. Irish Life was sold in Q4-2019, leaving Great-West Life (UK) as their major lifeco in the UK. IGM Financial(IGM). IGM's major operating subsidiary companies are Investors Group and Mackenzie.

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