Euan's Feed
Jun 10, 2015

Insight – Canada’s top pension plan signals big ambitions with GE deal

TORONTO (Reuters) – The Canada Pension Plan Investment Board (CPPIB), already a major global investor, has signalled even greater ambitions with a $12 billion (7.8 billion pounds) transaction with GE Capital that insiders and advisors said may herald larger deals.

The C$264 billion ($213 billion/138 billion pounds) pension fund manager’s decision not to seek a partner for the purchase of GE’s private equity lending portfolio also highlights its growing confidence and suggests it may go it alone more often on future buys.

Jun 10, 2015

Canada’s top pension plan signals big ambitions with GE deal

TORONTO, June 10 (Reuters) – The Canada Pension Plan
Investment Board (CPPIB), already a major global investor, has
signaled even greater ambitions with a $12 billion transaction
with GE Capital that insiders and advisors said may herald
larger deals.

The C$264 billion ($213 billion) pension fund manager’s
decision not to seek a partner for the purchase of GE’s private
equity lending portfolio also highlights its growing confidence
and suggests it may go it alone more often on future buys.

Jun 9, 2015

Canada’s CPPIB to buy GE private equity lending arm for $12 billion

TORONTO (Reuters) – Canada Pension Plan Investment Board (CPPIB) said on Tuesday it has agreed to buy GE Capital’s private equity lending portfolio for $12 billion, in a deal that will greatly expand the largest Canadian pension fund’s lending business.

GE’s Chicago-based Antares unit is the leading lender to middle market private equity-backed transactions in the United States. Over the past five years, Antares has provided more than $120 billion in financing.

Jun 4, 2015

Credit Suisse expands Canadian energy team as asset demand grows

TORONTO, June 4 (Reuters) – Credit Suisse is
building a specialized team in Canada to take advantage of an
increase in interest from big energy and financial players in
oil and gas assets that have been put on the block by companies
weakened by lower oil prices.

Senior Credit Suisse executives said on Thursday the bank is
putting together an acquisition and divestiture (A&D) team that
will initially be comprised of two or three members, and that is
likely to be expanded in time.

May 29, 2015

Canadian miner TMAC Resources plans IPO on TSX

TORONTO, May 29 (Reuters) – TMAC Resources, which is
currently developing the Hope Bay gold project in Canada’s far
north, has begun paperwork on an initial public offering and
plans to list on the Toronto Stock Exchange soon, a person
familiar with the matter said on Friday.

The offering would be the first pure IPO on the TSX in over
a year, as the pullback in metal prices has sharply dented
investor confidence in the mining industry and led to a major
slowdown in new mining listings on the resource-heavy TSX and
TSX Venture Exchange.

May 28, 2015

Canada’s Scotiabank reviews soccer sponsorship after FIFA arrests

TORONTO (Reuters) – Bank of Nova Scotia, an official partner of the governing body of soccer in North and Central America and the Caribbean, said on Thursday it would review sponsorship ties following the indictment of several soccer officials on corruption charges.

The Toronto-based bank stressed that it does not plan to sever sponsorships imminently with the Confederation of North, Central American and Caribbean Association Football (CONCACAF) but was closely monitoring developments after charges were brought by prosecutors in the United States on Wednesday.

May 26, 2015

Air Canada to redeploy capital as pension funding gap evaporates

TORONTO, May 26 (Reuters) – Air Canada said on
Tuesday it plans to redeploy capital toward share buybacks, debt
repayment and increased investment in new aircraft, as its once
huge pension fund deficit has now been wiped out much earlier
than expected.

Its pension fund deficit stood at C$4.2 billion in 2012, and
Air Canada struck a deal with the government in 2013 that gave
it more time to fix the funding gap.

May 26, 2015

Barrick investors welcome Chinese tie-up, debt reduction moves

VANCOUVER/TORONTO (Reuters) – Barrick Gold Corp’s first step to long-promised partnerships with China, as well as progress in reaching an ambitious debt-cutting goal, are turning skeptical investors warmer toward the world’s biggest gold miner.

Barrick said on Tuesday it would sell a stake in its Porgera mine in Papua New Guinea mine to China’s Zijin Mining Group, and form a strategic partnership with Zijin. The moves marked an initial push in Executive Chairman John Thornton’s plan to forge closer ties with China, the world’s biggest producer and consumer of gold.

May 21, 2015

Hootsuite says could go public sooner after Shopify IPO success

VANCOUVER/TORONTO, May 21 (Reuters) – The successful initial
public offering of Shopify could prompt
Hootsuite, another promising Canadian tech startup, to tap
public markets sooner rather than later, its chief executive
said on Thursday.

And a raft of other promising technology compatriots could
quickly join them, executives and backers say, in a revival of
public capital-raising that would boost a commodity-heavy equity
market pummeled by plunging oil and metal prices.

May 21, 2015

Hootsuite hints at moving up IPO timeline as Shopify shares soar

VANCOUVER, May 21 (Reuters) – Hootsuite, a provider of
software to manage social media on a global scale and one of
Canada’s most valuable tech startups, hinted on Thursday it may
move up its timeline on a initial public offering in light of
the success of fellow Canadian startup Shopify.

Canadian e-commerce software maker Shopify Inc’s
shares rose as much as 69 percent in their U.S. debut on
Thursday, valuing the company at about $2.14
billion.

    • 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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