Brookfield Asset Management has purchased warrants held by hedge fund manager Pershing Square Capital Management for shares in Chicago shopping mall owner General Growth Properties Inc. for US$271.9 million. Brookfield, which as part of the transaction agreed not to exceed a 45% stake in the company for four years, also offered the board of directors the ability to acquire the same warrants in the next 30 days. In 2010, Brookfield, Pershing Square and other firms made a major investment in General Growth Properties to facilitate the company's emergence from bankruptcy.
3 min read · 08 January 2013
Pacific Rubiales Energy Corp., a Canadian producer of natural gas and heavy crude oil, closed its acquisition of C&C Energia Ltd. The deal, which Reuters has estimated to be valued at approximately C$500 million, and will enhance Pacific Rubiales' presence in Columbia-based energy exploration and development. C&C Energia previously received backing from private equity firms, including ARC Financial Corp. and 32 Degrees Capital.
3 min read · 08 January 2013
Imperial Parking Corp. of Vancouver, British Columbia, completed the purchase of City Center Parking Inc., a parking management company based in Portland, Oregon. Terms of the transaction were not disclosed. Imperial Parking was acquired by Ontario Teachers' Pension Plan in 2011 from a joint venture that included US private equity firm Gates Group LLC, which originally invested in the company in 2006.
2 min read · 08 January 2013
Montréal's Osisko Mining Corp., which operates the Malartic Gold Mine in Malartic, Québec, completed its buy of all of the issued and outstanding shares of Queenston Mining Inc. When originally announced in November 2011, the value of the Queenston acquisition was estimated to be around C$550 million. Osisko is a portfolio company of Fonds de solidarité des travailleurs du Québec (FTQ), while the Toronto-based Queenston has been backed by Pinetree Capital.
2 min read · 08 January 2013
According to the Puget Sound Business Journal, EnerG2 Inc., a developer of high-performance energy storage solutions through advanced material processing techniques, raised US$9.4 million. The Seattle, Washington-based EnerG2 has been a portfolio company of Canadian venture capital firm Yaletown Ventures Partners since 2009. Other investors in the company includes OVP Venture Partners and Firelake Capital Management.
1 min read · 08 January 2013
New England-based internet infrastructure provider Dynamic Services Network, Inc. (Dyn) bought Verelo, Inc., a performance analytics company, that also features malware detection and site health monitoring services. Financial terms of the Dyn acquisition were not disclosed. The Toronto, Ontario-based Verelo secured startup financing in July 2012 from Extreme Startups, a Canadian accelerator and venture capital investor, which was launched in the same year.
2 min read · 08 January 2013
Goode Partners, which recently invested an undisclosed amount into baker Dave’s Killer Bread, expects to close its second fund at its $300 million target by the end of 2013, a source close to the firm told Buyouts.
2 min read · 03 January 2013
1 min read · 03 January 2013
Onex Corp. has completed it previously-announced acquisition of German plastics and rubber manufacturer KraussMaffei Group. The deal, which was done via Onex Partners III LP, closed at US$353 million. Onex also recently completed acquisitions of San Fransisco's BBAM LLC and New York's USI Insurance Services Inc.
2 min read · 03 January 2013
Pinetree Capital, a Canadian private equity firm focused primarily on mining opportunities, has acquired common shares in Creso Exploration Inc. Montréal-based Creso mines gold, silver and other minerals and holds interests in properties located in northern Ontario. The Creso investment was Pinetree's second deal in late December 2012.
3 min read · 03 January 2013
