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Jun 26, 2015

Exclusive – Scotiabank warns football’s CONCACAF to clean up its act or funds will be withheld

TORONTO (Reuters) – Bank of Nova Scotia has warned regional football body CONCACAF, which is deeply enmeshed in the FIFA bribery scandal, that it will withhold funds from a major sponsorship deal unless the confederation cleans up its act, according to a source familiar with the bank’s position.

    “The bank is deeply concerned,” said the source, speaking on condition of anonymity due to the sensitivity of the matter. “It does not want to be associated with scandals like this at all.”

Jun 26, 2015

Exclusive: Scotiabank warns soccer’s CONCACAF to clean up its act or funds will be withheld

TORONTO (Reuters) – Bank of Nova Scotia has warned regional soccer body CONCACAF, which is deeply enmeshed in the FIFA bribery scandal, that it will withhold funds from a major sponsorship deal unless the confederation cleans up its act, according to a source familiar with the bank’s position.

“The bank is deeply concerned,” said the source, speaking on condition of anonymity due to the sensitivity of the matter. “It does not want to be associated with scandals like this at all.”

Jun 26, 2015

GE asset sales, other mega deals may jolt Canadian league tables

TORONTO/NEW YORK, June 26 (Reuters) – General Electric’s
sale of its finance assets is set to shape and
potentially shake-up Canadian M&A league tables this quarter as
bankers scramble to get deals across the finish line before the
end of June.

In April, GE unveiled a plan to sell about $200 billion in
GE Capital assets as it moves away from finance and focuses on
manufacturing of industrial equipment. GE Chief Executive Jeff
Immelt sped up GE’s sales timeline last month, including the
expectation for $20 billion to $30 billion in finance deals by
the end of June.

Jun 26, 2015

Scotiabank warns soccer’s CONCACAF to clean up its act or funds will be withheld

TORONTO, June 26 (Reuters) – Bank of Nova Scotia has warned regional soccer body CONCACAF, which is deeply enmeshed in the FIFA bribery scandal, that it will withhold funds from a major sponsorship deal unless the confederation cleans up its act, according to a source familiar with the bank’s position.

“The bank is deeply concerned,” said the source, speaking on condition of anonymity due to the sensitivity of the matter. “It does not want to be associated with scandals like this at all.”

Jun 26, 2015

Germany’s K+S confirms takeover proposal from Potash Corp

FRANKFURT/TORONTO (Reuters) – German potash producer K+S (SDFGn.DE: Quote, Profile, Research, Stock Buzz) said on Thursday it has received a takeover proposal from larger Canadian fertilizer producer Potash Corp of Saskatchewan Inc (POT.TO: Quote, Profile, Research, Stock Buzz), potentially marking the start of a new takeover saga in the industry.

K+S said it was assessing its options. Two sources close to the matter however, said K+S will likely reject the 7 billion euro ($7.8 billion) takeover offer as being too low. The sources said the offer values K+S at just over 40 euros a share.

Jun 25, 2015

Acasta Enterprises set to raise C$275 million in Toronto IPO

TORONTO, June 25 (Reuters) – Acasta Enterprises Inc plans to
raise C$275 million ($222.08 million) through an initial public
offering in Toronto, joining a line of special purpose
acquisition corporations (SPACs) with high-profile backers
raising public capital to pursue acquisitions.

Toronto-based Acasta, which is targeting an acquisition in
North America, plans to sell some 27.5 million units at C$10 a
unit to list on the Toronto Stock Exchange, the company said
late Wednesday.

Jun 23, 2015

BlackBerry quarterly software revenue jumps, shares climb

WATERLOO, Ontario (Reuters) – BlackBerry Ltd (BB.TO: Quote, Profile, Research, Stock Buzz) (BBRY.O: Quote, Profile, Research, Stock Buzz) said on Tuesday its turnaround gained traction as sales at its crucial software segment rose in the first quarter and its broader revenue slide began to ease, sending its shares up 4.3 percent.

Quarterly revenue totaled $658 million in the quarter, slightly lower than the prior period, but software revenue more than doubled from a year ago to $137 million as the company pivots to that segment.

Jun 19, 2015

Fairfax CEO calls on Greece to remove uncertainty, clinch debt deal

TORONTO, June 19 (Reuters) – The head of Fairfax Financial
Holdings, which bet on the success of a turnaround in
Greece last year, urged the country to reach a deal with its
counterparts in the euro zone on Friday and remain a part of the
currency bloc.

“My message is get a deal done, as removing uncertainty for
Greece will be a major positive and it will drive a recovery in
the Greek economy,” Prem Watsa, the chief executive of Fairfax
and a well known contrarian investor, told Reuters.

Jun 17, 2015

Alignvest set to raise C$225 million via IPO on Toronto Exchange

TORONTO, June 17 (Reuters) – Alignvest Acquisition Corp, an
investment company set up primarily to buy an operating asset,
said on Wednesday it is raising almost double the money it set
out to generate via an initial public offering on the Toronto
Stock Exchange.

The Toronto-based company said it plans to sell 22.5 million
units at C$10 a unit and raise C$225 million ($184 million). It
had initially set out to raise C$125 million by selling 12.5
million units at C$10 apiece.

Jun 13, 2015

Fairfax moves to protect Watsa’s voting stake

TORONTO, June 13 (Reuters) – Fairfax Financial Holdings
has called a special meeting of its shareholders to
decide on a change that will preserve Prem Watsa’s voting stake
in the firm he has built and run for more than three decades.

Watsa, a famed contrarian investor often dubbed “Canada’s
Warren Buffett,” has grown Fairfax’s common shareholders’ equity
from around $8 million in 1985 to $8.8 billion today.

    • 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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