Shares of Jovian Capital Corp (JOV.TO) jumped over 30 percent on Tuesday after the company confirmed it was in talks with South Korea's Mirae Asset Global Management 037620.K to sell its 60 percent stake in Canada's No. 3 exchange-traded funds business, BetaPro Management. Mirae is also interested in buying out minority shareholders in BetaPro, valuing the whole business at around C$150 million ($156.2 million). While Jovian said there was no assurance the negotiations would lead to a deal, shares of the company were up C$2.44 at C$10.12 on the Toronto Stock Exchange on Tuesday afternoon. The shares had been halted on Monday. A share purchase agreement could be signed as early as mid-July if the negotiations with Mirae, South Korea's largest mutual fund manager, are successful.
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