John's Feed
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

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

Crescent Point set to win shareholder vote on Legacy acquisition: source

TORONTO/CALGARY (Reuters) – Crescent Point Energy Inc (CPG.TO: Quote, Profile, Research, Stock Buzz) is poised to prevail in a shareholder vote on its proposed acquisition of energy producer Legacy Oil + Gas Inc (LEG.TO: Quote, Profile, Research, Stock Buzz), according to a source familiar with the matter.

Such a vote will bring an end to uncertainty surrounding the deal since hedge fund and activist shareholder FrontFour Capital Corp said earlier this month that it will vote against the proposed acquisition. The final votes will be counted at Legacy’s annual meeting on June 30 in Calgary.

Jun 19, 2015

Activist fund Livermore calls for change at Canada’s Zargon Oil

TORONTO (Reuters) – U.S. hedge fund Livermore Partners is pushing for change at Canadian energy producer Zargon Oil and Gas Ltd (ZAR.TO: Quote, Profile, Research, Stock Buzz), calling for cost reductions, a dividend cut and an improvement in production.

Northbrook, Illinois-based Livermore could also potentially seek one or two board seats to get better oversight of the company and eventually explore strategic alternatives, including a partnership or the sale of the company, the fund’s top executive said on Friday.

Jun 18, 2015

Cenovus in exclusive talks with Teachers’ fund on land assets -sources

TORONTO/CALGARY, June 18 (Reuters) – Cenovus Energy Inc
is in exclusive talks to sell Canadian oil and gas
royalty lands to the Ontario Teachers’ Pension Plan in a deal
that could fetch C$2.5 billion to C$3 billion ($2.45 billion),
according to four sources familiar with the matter.

The sources, who asked not to be named as they have not been
cleared to discuss the matter publicly, said the discussions
between Calgary-based Cenovus and Ontario Teachers, one of
Canada’s top pension fund managers and investors, are at an
advanced stage.

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 15, 2015

Sun Life to acquire real estate manager Bentall Kennedy for C$560 million

MONTREAL, TORONTO June 15 (Reuters) – Sun Life Financial
said Monday it is acquiring North American real estate
investment manager Bentall Kennedy Group for C$560 million, as
part of the financial services group’s larger strategy to expand
its capabilities in commercial property.

Through the deal, Bentall Kennedy, which provides property
management, real estate investment and leasing services in
Canada and the United States, will become a unit of Sun Life
Investment Management, Sun Life said in a news release.

Jun 10, 2015

Asia seen as sweet spot for U.S. investors

NEW YORK (Reuters) – Asia is quickly becoming a “sweet spot” for U.S. investors eager to boost portfolio returns at a time the bull market in U.S. stocks is expected to lose some steam, a top hedge fund investor said.

Hedge fund managers in Singapore and Hong Kong can pick from a huge number of companies that are often followed less closely by analysts than are U.S. companies, leaving plenty of room to make money, Michael Weinberg, chief investment strategist at Protege Partners said at the 2015 Reuters Wealth Management Summit.

Jun 9, 2015

Asia seen as sweet spot for U.S. investors

NEW YORK, June 9 (Reuters) – (For other news from Reuters
Wealth Management Summit, click here)

Asia is quickly becoming a “sweet spot” for U.S. investors
eager to boost portfolio returns at a time the bull market in
U.S. stocks is expected to lose some steam, a top hedge fund
investor said.

Jun 8, 2015

Shop.ca weighs IPO within next year after raising cash

TORONTO (Reuters) – Canadian e-commerce start-up Shop.ca is looking at going public within the next year to take advantage of robust investor appetite for the country’s technology sector, its top executive said.

The company raised C$20 million ($16.11 million) from strategic and institutional investors in a recent funding round led by Scotiabank, Chief Executive James Haggarty said in a recent interview. That brought its fundraising to date to C$75 million.