1 min read · 30 June 2014
2 min read · 30 June 2014
3 min read · 30 June 2014
3 min read · 30 June 2014
2 min read · 30 June 2014
Hedge fund Paulson & Co has amassed a large stake in Allergan Inc of more than 6 million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc, Reuters reported. Valeant and its ally, Pershing Square Capital Management, are seeking to call a meeting to elect new directors to Allergan's board, which could pave the way for a takeover of the company. The Canadian drugmaker has taken its offer directly to Allergan shareholders after Allergan rejected its latest US$53 billion takeover bid.
3 min read · 27 June 2014
Stingray Digital Group has agreed to acquire the remaining 8,000 Canadian commercial accounts of Mood Media Corp. The deal's financial details were not disclosed. Stingray said it will also continue to be Mood Media's exclusive partner for the representation of their products and services in Canada. Earlier in 2014, it bought the Austin, Texas-based company's Latin American residential digital music services business. Based in Montréal, Stingray produces music and video content on multiple platforms. It is a portfolio company of Canadian private equity firm Novacap and technology-focused investment firm Telesystem.
3 min read · 27 June 2014
Investors in Stornoway Diamond Corp (TSX: SWY) on June 26 approved resolutions relating to the financing of the company's Renard Diamond Project in the James Bay region of north-central Québec. Stornoway, a Montréal-based mining company, said the decision by shareholders paves the way to completing transactions that would see global private equity firm Orion Mine Finance Group, Ressources Québec, an affiliate of Investissement Québec, and the Caisse de dépôt et placement du Québec commit to the project's $944 million funding package.
6 min read · 27 June 2014
Canada Pension Plan Investment Board (CPPIB) has invested an additional US$108 million to increase its ownership in New York City's One Park Avenue to 45 percent. The deal was done through a joint venture with Vornado Realty Trust. Vornado also will manage the office property, which is valued at US$560 million, including the assumption of US$250 million of debt. Another Canadian pension fund manager, the Caisse de dépôt et placement du Québec, also recently acquired commercial real estate in downtown Manhattan.
2 min read · 27 June 2014
Kohlberg Kravis Roberts & Co has named Alexander Navab sole head of its Americas private equity business after a review resulted in Michael Michelson’s giving up his title as co-head alongside Navab to return to full-time investing.
2 min read · 27 June 2014
