Telecoms masts group TDF has launched a 175 million euro (US$218.35 million) leveraged loan on Media Broadcast to refinance debt and facilitate a sale of its French unit, Reuters reported. Private equity firms TPG, Ardian, Charterhouse and French state bank Bpifrance agreed in November to sell the asset to Brookfield Infrastructure and its investment partners.
1 min read · 01 December 2014
4 min read · 28 November 2014
Songbird Estates, the majority owner of London's Canary Wharf, said an upturn in property markets means it is now worth 2.82 billion pounds (US$4.42 billion), more than the takeover offer from Qatar Investment Authority (QIA) and Brookfield Property Partners, Reuters reported. The company, in which QIA already has a 28.6 percent stake, rejected an initial approach on November 7 from QIA and Brookfield.
1 min read · 28 November 2014
Investment in Canada’s buyout and related private equity (PE) market rose sharply in Q3 2014, according to data released by the Canadian Venture Capital and Private Equity Association (CVCA) and research partner Thomson Reuters. Disclosed deal values totaled $19.8 billion in this period, due primarily to the Tim Hortons' acquisition. These results contributed to growth in market activity in the first nine months of the year, with 289 buyout-PE deals securing $26.4 billion invested.
5 min read · 27 November 2014
Fairfax Financial Holdings has launched Fairfax India Holdings Corp, a vehicle for investing in Indian businesses through public equity, private equity or debt transactions. It will be funded in part by a US$300 million commitment from Fairfax Financial in exchange for multiple voting shares on a private placement basis. An additional US$200 million will come from several cornerstone investors. Investments made by Fairfax India will focus on acquiring control or taking significant interest in target companies. Based in Toronto, Fairfax Financial is a financial services firm.
4 min read · 27 November 2014
Osisko Gold Royalties Ltd (TSX: OR) has closed private placements with existing investors the Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ. The transactions, which provide total gross proceeds of around $42 million, was previously announced concurrently with Osisko's agreement to combine with Virginia Mines Inc (TSX: VGQ). That $479 million acquisition will see the Caisse and the Fonds also invest in Virginia. Based in Montréal, Osisko is a gold-focused royalty and stream company.
2 min read · 26 November 2014
InnVest Real Estate Investment Trust (TSX: INN.UN) has raised approximately $47 million from three existing unitholders and other investors. Canadian real estate private equity firm KingSett Capital, Orange Capital and Westmont Hospitality Group contributed to the investment, which was concurrent with a $63.3 million public equity offering. InnVest said proceeds will be used to fund capital expenditures, debt repayment and acquisitions, including its pending purchase of the Fairmont Royal York Hotel in Toronto. KingSett is partnering in that deal.
4 min read · 26 November 2014
Spain's Banco Santander SA is trying to obtain regulatory approval to sell a part of its stake in a solar energy project in Nevada to two Canadian pension funds, Reuters reported, citing a Wall Street Journal story. In a new joint venture, Ontario Teachers' Pension Plan and Public Sector Pension Investment Board will each acquire a stake in Tonopah Solar Energy LLC.
1 min read · 26 November 2014
Huldra Silver Inc (TSX-V: HDA), a portfolio company of Canadian private equity firm Waterton Global Resource Management, has raised around $7 million of its previously announced secured convertible debenture financing. The debentures and security interest are subordinate to the company's obligations to Waterton. The company also implemented its Companies' Creditors Arrangement Act (CCAA) restructuring plan to settle approximately $21.6 million of debt. Based in Vancouver, Huldra is a silver mining company with projects in British Columbia.
9 min read · 25 November 2014
CarProof Corp, a portfolio company of U.S. private equity firm Hellman & Friedman since 2013, has appointed Ed Woiteshek as its new CEO. Woiteshek, formerly a Hellman & Friedman director, replaces Paul Antony, CarProof's founder. Antony will assume the responsibilities of chairman of the board. CarProof, a provider of vehicle history reports based in London, Ontario, sold a minority stake to Hellman & Friedman for an undisclosed sum in August 2013. As reported by peHUB Canada, the company in June bought vehicle valuation guide Canadian Red Book Ltd.
4 min read · 25 November 2014
