Euan's Feed
Feb 5, 2014

Canada pension board opens Brazil office, eyes real estate, infrastructure

TORONTO, Feb 5 (Reuters) – Canada Pension Plan Investment
Board said on Wednesday it will open an office in Sao Paulo in
April, intent on boosting real estate and infrastructure
investments in the region even as money is flowing out of
emerging markets.

CPPIB, a global dealmaker intent on diversifying its C$192.8
billion ($174 billion) portfolio, said the timing for opening
its fifth global office is perfect, though it noted competitors
like sovereign wealth funds are also hunting similar assets.

Feb 4, 2014

Silver Standard to buy Nevada mine from Goldcorp, Barrick

TORONTO, Feb 4 (Reuters) – Silver Standard Resources Inc
said on Tuesday it will buy the Marigold mine in Nevada
for $275 million in cash from joint owners Goldcorp Inc
and Barrick Gold in a move aimed at its boosting its
gold exposure.

Vancouver-based Silver Standard, which owns the Pirquitas
silver mine in Argentina, said the transaction adds an operating
mine in a well-established, low-risk mining jurisdiction to its
asset base.

Feb 3, 2014

Valeant to buy PreCision Dermatology for $475 million

TORONTO (Reuters) – Valeant Pharmaceuticals International Inc (VRX.TO: Quote, Profile, Research, Stock Buzz) (VRX.N: Quote, Profile, Research, Stock Buzz) said on Monday it has agreed to acquire privately held PreCision Dermatology Inc for $475 million in cash to strengthen its skin products business.

The deal, which is set to close in the first half of 2014, is expected to immediately add to Valeant’s cash earnings per share after closing.

Jan 30, 2014

Wind Mobile launches low-cost unlimited U.S. roaming plan

TORONTO (Reuters) – Wind Mobile, one of the smallest players in Canada’s wireless market, said on Thursday it was offering a new low-cost unlimited U.S. roaming plan, a traditionally lucrative niche for its much larger competitors.

Wind, backed by Europe’s Vimpelcom Ltd, said it would offer customers unlimited data, talk and text while traveling in the United States for C$15 ($13.42) a month.

Jan 28, 2014

Detour Gold could hedge if bullion price falls further -CEO

TORONTO, Jan 28 (Reuters) – Detour Gold Corp would
consider using a hedging strategy if the price of gold drops
from current levels, the Canadian gold miner’s interim Chief
Executive Paul Martin said on Tuesday.

The board of directors has given approval for management to
hedge up to 50 percent of the output from its Detour Lake gold
mine in northern Ontario, if circumstances require such action,
said Martin, speaking from the sidelines of the TD Securities
Mining Conference in Toronto.

Jan 22, 2014

BlackBerry shares rally as investors eye property sale windfall

TORONTO (Reuters) – Shares of BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) (BB.TO: Quote, Profile, Research, Stock Buzz), which have been on a tear so far this year, rallied again on Wednesday as investors eyed a cash windfall from the technology company’s plans to sell its Canadian real estate assets.

The Waterloo, Ontario-based company said on Tuesday it plans to divest most of the property it owns in Canada to bolster its balance sheet. Analysts believe the move will give the struggling smartphone maker more breathing room, as it attempts to alter strategic direction and turn its faded fortunes around.

Jan 22, 2014

Timmins Gold joins new mining rush to equity markets

TORONTO, Jan 22 (Reuters) – Timmins Gold Corp,
which owns the San Francisco gold mine in Mexico, said on
Wednesday it will sell C$25 million ($22.7 million) in equity to
a syndicate of banks, the latest in a slew of recent share
offerings from Canadian miners.

The Timmins deal, designed to strengthen its balance sheet,
builds on a wave of offerings that may signal a thaw in the
financing environment for miners, which have long been out of
favor with investors.

Jan 21, 2014

BlackBerry to divest majority of its Canadian real estate

TORONTO (Reuters) – BlackBerry Ltd said on Tuesday it intends to divest the majority of its real estate holdings in Canada, as it seeks to bolster its balance sheet and turn around its fortunes.

In partnership with commercial real estate services company CBRE, BlackBerry said it intends to strategically divest the majority of its real estate assets via a combination of sale-leaseback and vacant asset sales.

Jan 20, 2014

Osisko rejects Goldcorp’s unsolicited takeover bid

TORONTO (Reuters) – Osisko Mining Corp (OSK.TO: Quote, Profile, Research, Stock Buzz) rejected on Monday an unsolicited C$2.6 billion ($2.37 billion) takeover bid from rival Goldcorp Inc (G.TO: Quote, Profile, Research, Stock Buzz), saying the offer was financially inadequate and not in the best interests of its shareholders.

The rejection, which sets the stage for a possibly bruising takeover battle between the two Canadian gold miners, came as no surprise. In its preliminary response to the bid last week, Osisko said the 15 percent premium being offered by Goldcorp was “very low”.

Jan 15, 2014

Desjardins to acquire State Farm’s assets in Canada

TORONTO, Jan 15 (Reuters) – Canada’s Desjardins Group said
on Wednesday that it would buy State Farm Canada’s businesses in
property and casualty and life insurance, as well as its
Canadian mutual fund, loan and living benefits companies.

The exact terms of the transaction were not disclosed, but
the businesses were being valued at around C$1.6 billion
(US$1.46 billion) given the size of the cash infusions being
made by the parties involved.

    • 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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