Loral Space & Communications Inc, which holds a majority stake in Canadian satellite communication services company Telesat Holdings Inc, is exploring a sale, people familiar with the matter told Reuters. Loral, whose biggest shareholder is hedge fund veteran Mark Rachesky's MHR Fund Management LLC, is working with Credit Suisse Group AG as it prepares to market itself to potential buyers. At the same time, Loral is talking to another Telesat shareholder, Canada's Public Sector Pension Investment Board (PSP), about the possibility of jointly selling Telesat, one of the people said. There is no agreement currently between Loral and PSP about a joint sale of Telesat, the people said. Headquartered in Ottawa, Ontario, Telesat is the world's fourth largest provider of fixed satellite services.
3 min read · 23 January 2014
Canadian private equity and infrastructure manager and advisor Northleaf Capital Partners has agreed to partner with WHEB Infrastructure on a joint venture that will see continued expansion of WHEB's rooftop solar portfolio in the United Kingdom. Northleaf has acquired a 50 percent stake in the portfolio, as well as a pipeline of additional installations that will be operational in early 2014. Financial terms of the agreement were not disclosed. Based in London, WHEB is a private equity, listed equity and infrastructure investor in sustainable, resource-efficient and energy-efficient projects.
3 min read · 23 January 2014
Toronto-based private equity and venture capital firm Pinetree Capital has purchased 4 million common shares and 4 million warrants of LeoNovus Inc. As a result of the transaction, Pinetree now holds an aggregate of 10,186,500 common shares of the company, and up to 16.9 percent of total issued and outstanding shares if convertible securities are exercised. Based in Ottawa, Ontario and Sunnyvale, Calif., LeoNovus is an Internet and distributed cloud provider. Update: According to the company, the Pinetree deal helped generate gross investment proceeds of over $2 million.
2 min read · 23 January 2014
Prestige Cruises International Inc, backed by private equity firm Apollo Global Management LLC, filed with U.S. regulators to raise up to $250 million in an initial public offering of common stock, sister news service Reuters reported.
1 min read · 22 January 2014
Loral Space & Communications Inc, which holds a majority stake in Canadian satellite communication services company Telesat Holdings Inc, is exploring a sale, according to several people familiar with the matter, sister news service Reuters reported.
2 min read · 22 January 2014
Canadian investment management firm AGF Management Ltd and Instar Group Inc have launched InstarAGF Asset Management, a new Toronto-based joint venture that will provide global institutional investors with access to infrastructure investment opportunities. The firm will be led by Gregory Smith, president and CEO of Instar, and formerly managing partner of Brookfield Financial's Global Infrastructure Advisory Group. Smith was also previously president of Macquarie Capital Funds Canada Ltd, where he was responsible for Macquarie's unlisted and listed Canadian funds business along with the active management of Macquarie's Canadian assets owned by off-shore funds. AGF said it will be an active shareholder in the new venture, providing a range of operational services, working capital, and seed capital investment.
5 min read · 22 January 2014
Grupo Bimbo, one of the world's largest bread makers, has emerged as the leading candidate to acquire Canada Bread Co Ltd from majority owner Maple Leaf Foods Inc, people familiar with the matter told Reuters. Other parties involved in the auction of the roughly C$1.8 billion (US$1.64 billion) bakery company - including private equity firms KKR & Co LP and Bain Capital LLC, as well as U.S.-based Flowers Foods Inc - are no longer actively pursuing a deal, the sources said. Canadian food processor Maple Leaf said in October it would look to sell its 90 percent stake in Toronto-based Canada Bread, a maker of bread, rolls, bagels and sweet goods.
2 min read · 22 January 2014
Party City Holdco Inc, the largest U.S. party goods retailer backed by buyout firm Thomas H. Lee Partners LP, filed with U.S. regulators to raise up to $500 million in an initial public offering of common stock, sister news service Reuters reported.
2 min read · 22 January 2014
The owner of Britain’s Guardian newspaper has agreed to sell its 50.1 percent stake in cash-generative Trader Media Group to private equity firm Apax for around 600 million pounds ($985.2 million), the companies and sources said, sister news service Reuters reported.
2 min read · 21 January 2014
Anheuser-Busch InBev SA, the world’s biggest brewer, agreed to buy back South Korea’s Oriental Brewery Co Ltd (OB) for $5.8 billion including debt, returning to a large Asian market at a time of strong industry growth across the region.
4 min read · 21 January 2014
