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Sep 19, 2014

TransCanada says current structure critical to its strategy

TORONTO, Sept 19 (Reuters) – Canadian pipeline operator
TransCanada Corp said on Friday its current corporate
structure, asset base and financial strength are critical to its
ability to maneuver and deliver on its growth strategy.

The statement followed a Reuters report on Thursday that a
number of U.S. hedge funds were reviewing the pipeline operator
as a potential break-up candidate.

Sep 18, 2014

U.S. Steel sought wide ranging relief from Ontario government: source

TORONTO (Reuters) – United States Steel Corp’s Canadian unit had sought a wide ranging set of relief measures from the Ontario government before it filed for creditor protection in Canada earlier this week, according to a source familiar with the matter.

The source, who was not authorized to publicly discuss the matter, said the steelmaker had sought environmental liability waivers, an extension on the deadline to fully fund its pension plans in Canada and forgiveness of a C$150 million ($137 million) loan granted by the provincial government nearly a decade ago.

Sep 18, 2014

U.S. Steel sought wide ranging relief from Ontario gov’t -source

TORONTO, Sept 18 (Reuters) – United States Steel Corp’s
Canadian unit had sought a wide ranging set of relief
measures from the Ontario government before it filed for
creditor protection in Canada earlier this week, according to a
source familiar with the matter.

The source, who was not authorized to publicly discuss the
matter, said the steelmaker had sought environmental liability
waivers, an extension on the deadline to fully fund its pension
plans in Canada and forgiveness of a C$150 million ($137
million) loan granted by the provincial government nearly a
decade ago.

Sep 16, 2014

Wind Mobile buyout limited threat to Canada telcos, for now

TORONTO (Reuters) – The sale of Wind Mobile to a group of private equity investors will need to be followed by hefty investment and further deals before Canada`s No. 4 wireless provider poses a significant threat to its much larger competitors.

Shares of BCE Inc, Telus Corp, and Rogers Communications Inc all fell slightly on Tuesday following the news, which some view as a first step to creation of a stronger challenger to the three dominant national players.

Sep 15, 2014

Vimpelcom to sell Wind Mobile stake to Canadian minority owner – sources

TORONTO, Sept 15 (Reuters) – Vimpelcom Ltd has
agreed to sell its majority stake in Canadian wireless carrier
Wind Mobile to its current minority owner Globalive for around
C$300 million ($272 million), two sources with knowledge of the
matter said on Monday.

One of the sources said the transaction would be partly
funded by an investor group led by Canadian hedge fund West Face
Capital Inc and include California-based private equity firm
Tennenbaum Capital Partners.

Sep 11, 2014

BlackBerry buys UK mobile technology start-up Movirtu

TORONTO/LAS VEGAS, Sept 11 (Reuters) – BlackBerry
has acquired a U.K-based mobile technology start-up whose
software allows users to have multiple phone numbers on the same
device, the Canadian tech firm said on Thursday.

The purchase of Movirtu helps BlackBerry ramp up its
portfolio of services to cater to the needs of its core base of
corporate and government clients. Terms of the transaction were
not disclosed.

Sep 11, 2014

BlackBerry buys Movirtu in bid to woo more corporate customers

TORONTO/LAS VEGAS (Reuters) – BlackBerry Ltd said on Thursday it has acquired Movirtu, a provider of virtual identity solutions, as part of its move to continue building out its portfolio of value-added services that cater to the needs of its core base of corporate and government clients.

Waterloo, Ontario-based BlackBerry said Movirtu’s virtual SIM technology allows an individual to have both a personal and business number on a single mobile device, with separate billing for voice, data and messaging usage on each number.

Sep 3, 2014

Manulife to buy Standard Life’s Canadian assets for $3.7 bln

TORONTO, Sept 3 (Reuters) – Manulife Financial Corp
said on Wednesday it has agreed to acquire the Canadian
operations of Standard Life Plc for about C$4 billion
($3.7 billion) in cash, in a deal that significantly expands the
insurer’s presence in Quebec.

The Toronto-based insurer said the transaction builds on an
already successful wealth and asset management partnership with
Standard Life.

Aug 29, 2014

Burger King main shareholder the big tax winner in Tim Hortons deal

TORONTO (Reuters) – Burger King’s (BKW.N: Quote, Profile, Research, Stock Buzz) proposed $11.5 billion acquisition of Canada’s Tim Hortons (THI.TO: Quote, Profile, Research, Stock Buzz) may offer big tax benefits to the U.S. fast food chain but the real tax winner is likely to be its controlling shareholder, 3G Capital.

The New York investment firm is not only deferring a capital gains tax hit in the U.S. because of the deal structure, but is also poised to reap a multitude of dividend tax and other benefits by moving Burger King’s domicile to Canada, tax experts on both sides of the border said.

Aug 26, 2014

Barrick scraps corporate development team, more cuts coming -sources

TORONTO/VANCOUVER, Aug 26 (Reuters) – Barrick Gold Corp
is eliminating its corporate development team and more
cuts are in the works as the world’s top gold miner looks to
reduce costs, three sources familiar with the situation said on
Tuesday.

The sources, who asked not to be named as they were not
authorized to discuss the matter publicly, said Rick McCreary,
the development team’s head, is leaving the company this week.

    • About Euan

      "Euan Rocha covers mining and minerals in Canada, where he focuses on gold, base metals and fertilizer companies. Euan, who is currently based in Toronto, has previously worked with Reuters in the United States and India. While based in New York for four years, Euan headed the Reuters Alerts team, before moving on to cover the U.S. chemical industry. Euan began his career with Reuters in Bangalore, India in 2004."
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