Euan's Feed
Oct 28, 2013

Exclusive: Agnico eyes selling minority stake in Arctic project – sources

TORONTO (Reuters) – Canadian gold miner Agnico Eagle Mines Ltd (AEM.TO: Quote, Profile, Research, Stock Buzz) (AEM.N: Quote, Profile, Research, Stock Buzz) is considering selling a minority stake in its Meliadine gold project in the Canadian sub Arctic, according to two sources familiar with the situation.

The Toronto-based miner, which owns operations in Canada, Finland and Mexico, has held some preliminary discussions with interested parties, said the sources, who asked not to be named as they are not authorized to discuss the matter with the media.

Oct 24, 2013

Billionaire Ackman trims CP railway stake, adding to fund’s cash pile

BOSTON/TORONTO (Reuters) – Billionaire investor William Ackman announced on Thursday that he sold 6 million shares in Canadian Pacific Railway Ltd (CP.TO: Quote, Profile, Research, Stock Buzz) after a huge run-up in the stock, adding a large pile of cash to his $11 billion hedge fund.

Just over a year after winning a proxy fight and installing a new chief executive at Canada’s second-largest railway, the sale will add roughly $800 million to Ackman’s Pershing Square Capital Management fund.

Oct 23, 2013

Canada’s Telus agrees to buy start-up Public Mobile

TORONTO, Oct 23 (Reuters) – Canadian telecom company Telus
said on Wednesday it has agreed to buy 100 percent of
struggling startup Public Mobile from private equity firm
Cartesian Capital and Thomvest Seed Capital, a Toronto-based
investment vehicle backed by Peter Thomson.

The terms of the deal were not disclosed.

The Canadian government said in a separate statement that it
has approved the transfer of Public’s spectrum licenses to
Telus, paving the way for the deal to proceed.

Oct 22, 2013

Sobeys-Safeway deal approved by Canada’s Competition Bureau

TORONTO (Reuters) – Empire Co Ltd (EMPa.TO: Quote, Profile, Research, Stock Buzz), the operator of Canadian grocery chain Sobeys, said on Tuesday that Canada’s competition watchdog approved its acquisition of substantially all of Safeway Inc’s (SWY.N: Quote, Profile, Research, Stock Buzz) assets in Canada.

To win approval from the Competition Bureau, Empire agreed to divest some 23 stores in British Columbia, Alberta, Saskatchewan and Manitoba. The stores being sold include 13 Safeway stores and 10 stores that operate under different banners owned by Empire.

Oct 21, 2013

Canada’s Maple Leaf Foods explores sale of Canada Bread stake

TORONTO/WINNIPEG, Manitoba, Oct 21 (Reuters) – Canadian food
processor Maple Leaf Foods said on Monday it may sell
its controlling stake in Canada Bread Company as it
determines whether to exit the bakery business and focus on meat
products.

Toronto-based Maple Leaf said it has recently completed a
comprehensive review of opportunities to accelerate profitable
growth across its bakery business. But before committing
resources, it decided to explore strategic alternatives,
including a sale of its 90 percent stake in Canada Bread.

Oct 17, 2013

Lenovo signs non-disclosure deal with BlackBerry: WSJ

TORONTO (Reuters) – Chinese personal computer maker Lenovo Group Ltd has signed a non-disclosure deal to examine the books of troubled Canadian smartphone maker BlackBerry Ltd, the Wall Street Journal said on Thursday, quoting unnamed sources.

Smartphone pioneer BlackBerry said in August it was exploring options that could include an outright sale.

Oct 16, 2013

Telecom tycoon says Ottawa’s policy imperils Wind, foreign investment

TORONTO, Oct 16 (Reuters) – Lack of clarity around Ottawa’s
telecommunications policy has jeopardized foreign investment in
Canada and cast doubt over the future of Wind, the largest new
player in the Canadian wireless market, said Egyptian telecom
magnate Naguib Sawiris on Wednesday.

Sawiris bankrolled the start-up of new telecom player Wind
Mobile in 2008, but he lost his ties with the company after his
controlling stake in Orascom was sold to European telecoms firm
Vimpelcom Ltd in 2011.

Oct 16, 2013

Egyptian tycoon says Wind Mobile in peril due to Ottawa policy

TORONTO (Reuters) – Egyptian telecom magnate Naguib Sawiris said on Wednesday the lack of clarity around Ottawa’s telecom policy has put Wind Mobile, the largest new entrant in the Canadian wireless market, at risk of going bust.

Asked about the health of the company, a spokesman for Wind said by email: “We can’t comment on Mr. Sawiris’ statement as it is his personal opinion and he is no longer connected to Wind Mobile Canada.”

Oct 14, 2013

Talks between union and CN Rail break down, strike looms

TORONTO, Oct 14 (Reuters) – Talks between the railroad
workers’ union and Canadian National Railway Co have
broken down, raising the possibility of a strike or a lockout by
Oct. 28 at the country’s largest railroad operator, the union
said on Monday.

The Teamsters Canada Rail Conference, which represents some
3,300 conductors, trainmen, yardmen and traffic coordinators,
said the company rejected the union’s offer to extend
conciliation talks that ended on Oct. 7.

Oct 11, 2013

Exclusive: Glencore, Vale in talks over Canadian nickel tie-up – sources

LONDON/TORONTO (Reuters) – Glencore Xstrata (GLEN.L: Quote, Profile, Research, Stock Buzz) and Vale (VALE5.SA: Quote, Profile, Research, Stock Buzz) have revived talks over a potential combination of the mining groups’ nickel operations in Canada’s Sudbury basin, in an effort to cut costs as prices for the metal languish, sources familiar with the situation said.

The discussions are still at an early stage but have revived hopes of a long-debated Sudbury tie-up, with the companies considering a number of options for their mining and processing operations in the area, the sources said.

    • 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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