TORONTO, Dec 2 (Reuters) – Barrick Gold Corp, the
world’s largest gold producer, is poised to announce a board
shuffle and name a new chief operating officer, according to
several sources familiar with the situation.
Barrick is expected to announce that founder and long-time
Chairman Peter Munk will hand over the role of chairman to his
heir apparent, John Thornton, currently co-chairman, as widely
TORONTO, Nov 28 (Reuters) – Teletubbies owner DHX Media
said on Thursday it will acquire Family Channel and
three other children’s channels from BCE’s Bell Media
for C$170 million in cash, adding content distribution to its
The deal, cheered by analysts and investors, sent DHX shares
surging 38 percent to a lifetime-high of C$5.74 in morning
trading on the Toronto Stock Exchange.
TORONTO/MUMBAI, Nov 28 (Reuters) – Canada Pension Plan
Investment Board (CPPIB) will invest $200 million to get an 80
percent stake in a real estate joint venture with India’s
Shapoorji Pallonji Group, its first foray into the property
market in Asia’s third-largest economy.
The joint venture will invest in leased income-producing
office buildings, according to a statement issued by the two
parties on Thursday.
TORONTO, Nov 27 (Reuters) – First Quantum Minerals Ltd
said on Wednesday it strongly disputes the claims of
some debtholders that it has violated indentures and defaulted
on a parcel of debt taken on following its acquisition of rival
The Canadian base metal miner said it has received a notice
from a small group of its noteholders including CI Investments
, Barometer Capital and funds managed by
Capital Group that it has violated certain indentures on two
separate series of Inmet’s senior notes that come due in 2020
TORONTO (Reuters) – BlackBerry Ltd said on Monday that three top executives, including its chief financial officer, are stepping down as recently appointed Chief Executive John Chen embarks on his promised shakeup at the struggling smartphone maker.
Chen, brought in as interim CEO earlier this month after the company dropped a plan to sell itself, said BlackBerry is setting its marketing sights on corporations, governments and the big clients that were at the root of its early success.
TORONTO (Reuters) – BlackBerry Ltd said on Monday that three top executives, including its chief financial officer, are stepping down as part of a widely expected shake-up after it named an interim chief executive and shelved plans to sell itself.
James Yersh is replacing Brian Bidulka as CFO, although Bidulka will stay on as an adviser through the end of the fiscal year.
AMSTERDAM/TORONTO (Reuters) – Dutch food and chemicals group DSM (DSMN.AS: Quote, Profile, Research, Stock Buzz) will spin off its pharmaceuticals unit into a new joint venture majority-owned by private equity firm JLL Partners as the company shifts its focus toward higher-margin products.
New York-based JLL will merge the DSM business with that of Toronto-based drug maker Patheon Inc (PTI.TO: Quote, Profile, Research, Stock Buzz), forming a joint venture boasting some $2 billion in annual sales that the companies said on Tuesday will be a leader in manufacturing medicines for pharmaceutical companies.
TORONTO (Reuters) – U.S. hedge funds Scout Capital Management and Highfields Capital disclosed in regulatory filings that they have trimmed their stakes in Tim Hortons (THI.TO: Quote, Profile, Research, Stock Buzz) after shares in the Canadian coffee and doughnut chain posted big gains.
The two activist investors had urged Tim Hortons to increase debt levels to fund a share buyback, as well as address concerns about its U.S. expansion, and to name directors to the board who have more financial expertise.
TORONTO, Nov 11 (Reuters) – Manulife Financial Corp
, Canada’s largest life insurer, said on Monday it plans
to expand its private asset management business, allowing
clients its such as pension funds to invest in timberland,
farmland, real estate and private equity assets.
Toronto-based Manulife, which manages money for pension
plans, sovereign wealth funds, endowments and midsized insurers,
said the expansion will open up a range of new investment
opportunities for such clients and institutional investors.
TORONTO/NEW YORK (Reuters) – Barrick Gold Corp (ABX.TO: Quote, Profile, Research, Stock Buzz) signaled on Friday that founder and Chairman Peter Munk will likely leave the board at next year’s annual meeting, a move that sources say is intended to persuade reluctant investors to buy into the miner’s $3 billion equity offering.
Sources familiar with the situation say banks underwriting the deal have struggled to sell as much as a third of the shares on offer. Investors have become increasingly concerned about Barrick’s governance, especially what many see as the board’s lack of independence and Munk’s dominant role in the boardroom.