Power Corp. of Canada is a large public company that was established in the 1920s.
The company is headquartered in Montreal and has diversified international management and investments in sectors like financial services, communications etc across North America, Europe and Asia. Founded to develop hydroelectric power, Power Corporation of Canada now ventures into financial sector, not power.
Through its large part stake in Power Financial, the organization controls one of Canada's driving common asset firms (IGM Financial), one of its biggest life insurance providers (Great-West Lifeco), and other protection/ insurance based firms. The company also six different daily newspaper in Quebec and Ontario and publishes Montreal's La Presse. It also owns a larger part of Pargesa Group, which has stakes in various big organizations like construction (namely Lafarge), wines and spirits (Pernod Ricard), utilities (GDF SUEZ) and different divisions/ sectors in Europe through a controlling stake in another subsidiary Groupe Bruxelles Lambert.
The company has a total of $1.22 trillion of assets under management. The company has presence in communications sector as well through Square Victoria Communications Group which is its subsidiary. Power Corporation likewise holds and effectively deals with a portfolio of investments in the United States, Europe and Asia. Power Corporation is a dominant stake possessor of Great-West Lifeco through its subsidiary Power Financial. Great West Lifeco provides life and medical coverage as well as retirement and investment management services.
The enterprise is known for its dynamic interest in Canadian governmental issues through its connections and the connections of the Desmarais family with different politicians.
Power Corp. of Canada’s sales turnover in Canada was 38.2 Billion Canadian dollars in 2015. The company earned 1.78 Billion Canadian dollars profit.