Hutchison Whampoa Ltd said it plans to sell a one-third stake in its British mobile phone business for US$4.3 billion to five investors, a move that will help the Hong Kong ports-to-telecoms group fund its boldest bet in Europe yet, Reuters reported. The Canada Pension Plan Investment Board and the Caisse de dépôt et placement du Québec are among the buyers.
2 min read · 08 May 2015
Pacific Rubiales Energy Corp said Mexican conglomerate Alfa Sab de CV and Harbour Energy Ltd have offered $6.50 per share for the Canadian oil and gas company, valuing it at about $2.05 billion. The statement confirmed a report earlier this week by Reuters. Harbour Energy is a joint venture between Asian commodity trader Noble Group Ltd and U.S. private equity firm EIG Global Energy Partners.
1 min read · 07 May 2015
JENSEN HUGHES Inc, a portfolio company of U.S. private equity firm Huron Capital Partners, has acquired Sereca Fire Consulting Ltd, a Vancouver-based provider of engineering and consulting services, including fire protection design and engineering, and building code consulting. The value of the transaction was not published. The acquisition is JENSEN HUGHES' second completed in Canada this year, following its purchase in April of Randal Brown & Associates Engineering Ltd. Huron Capital invested in the U.S.-based JENSEN HUGHES in May 2011 to serve as a platform for growth in its industry.
3 min read · 07 May 2015
At least five senior Statoil executives and engineers have left the Norwegian oil giant’s North Dakota unit to form their own U.S. exploration and production company backed by $500 million in private equity, Reuters reported.
3 min read · 07 May 2015
Medwell Capital Corp (TSX-V: MWC) and GDI Integrated Facility Services Inc have priced their previously announced public offering. The offering, which when closed this month will create a new public entity that will carry on the business of GDI and assume its name, is expected to raise aggregate gross proceeds of $150.4 million or greater. The offering is tied to a transaction that will merge GDI, a Montréal-based provider of janitorial and related services, with Medwell. Both companies are portfolio investments of Canadian mid-market private equity firm Birch Hill Equity Partners. According to SEDAR documents, Birch Hill will receive $104 million of offering proceeds and remain a significant investor in the publicly-listed GDI.
3 min read · 07 May 2015
Blackstone Group LP has secured $17 billion from investors for its latest global private equity fund in just seven months, the biggest so-called first close of a buyout fund ever, people familiar with the matter told Reuters.
2 min read · 07 May 2015
Golden Opportunities Fund, a fund managed by Canadian private equity and venture capital firm Westcap Management, has led the management buyout of Prairie Meats, a Saskatoon-based provider of meat products through processing, wholesaling and retail facilities. Golden Opportunities invested $7.3 million alongside members of the company's management team to take a significant stake in the newly formed Prairie Meats LP. Prairie Meats was established as a family-owned operation in 1983. It said the partnership with Golden Opportunities will allow the business to continue to grow and expand its product lines and services.
2 min read · 06 May 2015
Canadian mineral exploration company Midland Exploration Inc (TSX-V: MD) has completed a private placement that generated total gross proceeds of about $14.3 million. Investors in the offering included the Fonds de solidarité FTQ, an affiliate of Capital régional et coopératif Desjardins and Sodémex Développement, a subsidiary of the Caisse de dépôt et placement du Québec. Midland, which is based in Montréal, said it would use proceeds of the transaction in part for its exploration activity, which is focused on the discovery of new deposits of gold, platinum group elements, base metals and rare earth elements in Québec.
3 min read · 06 May 2015
Mexican conglomerate Alfa Sab de CV and Harbour Energy Ltd have agreed to acquire Canadian oil and gas company Pacific Rubiales Energy Corp for $6 billion, including debt, sources told Reuters. Harbour Energy is a joint venture between Asian commodity trader Noble Group Ltd and U.S. private equity firm EIG Global Energy Partners.
2 min read · 06 May 2015
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure), CarbonFree Technology and the Métis Nation of Ontario have closed long-term debt financing for their jointly owned portfolio of commercial-scale solar projects. The financing's value was not disclosed. The portfolio, comprised of 58 rooftop and five ground-mount projects located across Ontario, have a generating capacity of more than 18 megawatts and represent about $85 million of capital. Proceeds of the deal will be used chiefly to fund project construction costs. CC&L Infrastructure is an affiliate of Canadian asset management firm Clark & Lunn Financial Group Ltd.
4 min read · 06 May 2015
