French energy services group Spie on Tuesday confirmed it had plans to go public with an IPO that analysts have said could value the firm at 3 to 4 billion euros (US$4.1 billion - US$5.5 billion), reports Reuters. Spie, owned by private equity firms Ardian and Clayton Dubilier & Rice, and by the Caisse de dépôt et placement du Québec, said in a statement it was ahead of schedule with its strategic planning and could now envisage a bourse listing.
1 min read · 08 April 2014
The chief executive of Osisko Mining Corp said on Tuesday it will be tough for Goldcorp Inc to raise its bid for Osisko by enough to trump a rival deal, and it is more likely that the gold producer will walk away from the transaction, Reuters reports. Last week Osisko unveiled a "white knight" bid by fellow Canadian miner Yamana Gold Inc for 50 percent of its assets. As part of the Yamana deal, Osisko entered into funding arrangements totaling $550 million with CPPIB Credit Investments and the Caisse de dépôt et placement du Québec.
2 min read · 08 April 2014
Natural health products manufacturer Atrium Innovations Inc, which was acquired in February by an investor group led by European private equity firm Permira Funds, has announced that the company's president and CEO Pierre Fitzgibbon will be stepping down in 2014. Fitzgibbon will stay in his current post while Atrium's board of directors conducts a search for a replacement. He will also remain one of the company's largest individual shareholders. Based in Québec City, Atrium is also backed by the Fonds de solidarité des travailleurs du Québec FTQ and the Caisse de dépôt et placement du Québec.
3 min read · 08 April 2014
Canadian entertainment technology company IMAX Corp (TSX: IMX, NYSE: IMAX) has sold a 20 percent interest in its Asia-based subsidiary, IMAX China (Holding) Inc, to Chinese private equity firms CMC Capital Partners and FountainVest Partners. The acquisition price is US$80 million, to be paid in two equal installments, with the first expected to occur this week and the other by early 2015. IMAX said that the introduction of Chinese ownership to its subsidiary will allow it eventually to launch an initial public offering for IMAX China. IMAX China will remain a subsidiary of its parent organization, which has its headquarters in Mississauga, Ontario.
7 min read · 08 April 2014
Aurigen Capital Ltd, a provider of reinsurance for individual life insurance policies, has filed a preliminary prospectus with Canadian regulatory authorities for an initial public offering of common shares. Aurigen was established in 2007 with a $505 million investment from Canadian private equity firm Edgestone Capital Partners, U.K.-based Bregal Capital, U.S.-based Pine Brook Partners and Quantum Strategic Partners, an affiliate of Soros Fund Management, and other investors. The company has its primary offices in Toronto, Red Bank, New Jersey, Milford, Connecticut and Hamilton, Bermuda.
4 min read · 08 April 2014
Apax Partners LLP is exploring a sale of Advantage Sales & Marketing Inc (ASM) that could value the consumer marketing company at between $3 billion and $4 billion, according to people familiar with the matter.
2 min read · 08 April 2014
1 min read · 08 April 2014
Aequitas Capital expects to hit a $75 million first close for its latest fund later in April.
1 min read · 07 April 2014
IMS Health Holdings Inc, a TPG Capital Management-backed healthcare information company, said its initial public offering was priced at US$20 per share, valuing the company at about US$6.64 billion, reports Reuters. With 65 million shares offered, the IPO raised about US$1.30 billion. TPG, Canada Pension Plan Investment Board and Leonard Green & Partners LP took IMS Health private in 2010 for US$5.2 billion, including debt. Danbury, Connecticut-based IMS Health provides prescription data to the pharmaceutical industry, medical device makers, government agencies and other companies in the healthcare sector.
2 min read · 07 April 2014
Oil and gas company Seven Generations Energy Ltd has closed a $633 million secondary offering of common shares by several of its major founding investors. The shareholders are Canadian private equity firms ARC Financial and KERN Partners, and U.S.-based Natural Gas Partners and ZBI Ventures. The shares were sold at a price of $25.00 per share to a group of institutional investors. Following the transaction, the selling investors will continue to hold around 31% of total common shares in the Calgary-based Seven Generations. CEO Pat Carlson said the company is currently evaluating potential liquidity alternatives. Canada Pension Plan Investment Board (CPPIB) is also a backer of Seven Generations.
3 min read · 07 April 2014
