Euan's Feed
Apr 24, 2015

Canadian media company Stingray unveils IPO plans

TORONTO/MONTREAL, April 24 (Reuters) – Stingray Digital
Group, a business-to-business music provider and media company,
said on Friday it plans to go public through a listing on the
Toronto Stock Exchange.

A source familiar with the company’s plans, who asked not to
be named as the details of the offering are not yet public, said
Stingray plans to raise C$120 million ($99 million) via the IPO
that is expected to close sometime in early June.

Apr 24, 2015

CPPIB joins chorus against Barrick’s executive pay structure

TORONTO, April 24 (Reuters) – The Canada Pension Plan
Investment Board, the country’s largest pension fund manager, on
Friday joined a slew of other investors opposing Barrick Gold
Corp’s executive pay structure.

Toronto-based CPPIB said it plans to come out against the
advisory vote on executive compensation that Barrick will be
having at its annual shareholder meeting next week.

Apr 23, 2015

Fairfax optimistic about prospects of a Greek debt deal

TORONTO (Reuters) – Fairfax Financial Holdings, which bet on the success of a Greek turnaround last year, said on Thursday it is confident that Greece will reach a deal with its counterparts in the euro zone and remain a part of the currency bloc.

Fairfax last year became a key player in the bailout of one of the country’s largest lenders Eurobank, after it bought a 13.6 percent stake in the bank. The Toronto-based firm recently boosted its position in the bank further, even as Greek banks suffered deposit outflows in the face of fears over the Greek government’s extended standoff with euro zone partners over reforms.

Apr 21, 2015

BlackBerry to buy WatchDox to bolster data security

TORONTO (Reuters) – BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) (BB.TO: Quote, Profile, Research, Stock Buzz) said on Tuesday it is acquiring privately-held U.S. tech company WatchDox, which makes software that secures files for clients ranging from private equity firms to Hollywood studios, in a bid to boost its security offerings.

WatchDox’s software gives clients control over how their files are edited, copied, printed or forwarded. Network administrators will be able to revoke access to files, or delete them remotely even after they leave a company’s corporate network.

Apr 20, 2015

Barrick taps Michael Klein as advisor on Zaldivar mine options: sources

LONDON/TORONTO (Reuters) – Barrick Gold Corp is being advised on options for its Zaldivar copper mine in Chile by the boutique firm of mining rainmaker Michael Klein, in a deal potentially worth around $2 billion, three sources familiar with the matter said on Monday.

Toronto-based Barrick has already contacted a limited group of buyers including some diversified Chinese miners and copper companies, the sources said, declining to be identified since the matter is private.

Apr 17, 2015

Two top Canada pension funds to oppose CIBC’s executive pay plan

TORONTO, April 17 (Reuters) – Two of Canada’s largest
pension funds, shareholders of Canadian Imperial Bank of
Commerce, said on Friday they will demonstrate their
unhappiness with CIBC’s executive pay structure at the lender’s
annual meeting next week.

The Ontario Teachers’ Pension Plan Board, vexed by
multimillion-dollar payments to two retired executives, plans to
withhold support for members of CIBC’s compensation committee
and to oppose the bank’s pay structure in a nonbinding vote.

Apr 17, 2015

India’s Modi courts Canadian banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded a bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 17, 2015

Modi courts Canada banks, insurers, pension funds

TORONTO (Reuters) – Top executives at Canada’s largest banks, insurers and pension funds sounded bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years.

Modi held a roundtable with the heads of major Canadian financial institutions in Toronto on Thursday, stressing that his government is focused on reducing bureaucracy and investment hurdles, and adding it would welcome investments in infrastructure projects.

Apr 15, 2015

Saudi firm, Bunge to buy majority stake in Canadian grain handler

TORONTO/RIYADH, April 15 (Reuters) – Saudi Arabia’s
state-owned agricultural investment firm and U.S. grain trader
Bunge Ltd will buy a controlling stake in Canadian grain
handler CWB, in a bold move by the Gulf state to secure food
supplies.

G3 Global Grain Group, a joint venture of Bunge and Saudi
Agricultural and Livestock Investment Co (SALIC), said on
Wednesday it will buy a 50.1 percent stake in CWB for C$250
million ($201 million).

Apr 3, 2015

Barrick settles cases tied to atrocities at Porgera mine

TORONTO (Reuters) – Canadian gold miner Barrick Gold said on Friday it has settled 11 claims related to atrocities committed against women over the last two decades at its Porgera gold mine in Papua New Guinea.

The settlement reached with EarthRights International, a non-governmental organization, that was representing the women, brings to a close all of the outstanding claims made by women, who were allegedly beaten, raped, and threatened by the miner’s security personnel and employees. Some incidents dated back to even before Barrick bought the mine via its takeover of Placer Dome in 2006.

    • 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."
    • Follow Euan