Canada plans to have its infrastructure bank, a key initiative set up to facilitate private financing for infrastructure projects, open for business by the end of the year, Reuters reported, citing Finance Minister Bill Morneau, who delivered his federal budget this week. However, Morneau's budget contained few other new details on the new agency, which the Liberal government committed to set up last year to provide access to $35 billion to help fund major projects that might not otherwise get built. It plans to supplement public investment with funding from private investors, such as pension and sovereign wealth funds.
2 min read · 23 March 2017
Fast food chain Pret a Manger's private equity owners have chosen Solebury Capital to advise on a planned New York stock market listing, sources told Reuters.
1 min read · 23 March 2017
Amazon.com Inc has agreed in principle to buy Dubai-based internet retailer Souq.com, one of the best-known names in the Middle East's online shopping market, sources familiar with the deal said on Wednesday.
3 min read · 23 March 2017
Small U.S. business online lender Kabbage Inc is in talks to raise a new round of equity funding that could be used for potential acquisitions at a time when many of its peers face funding challenges, Reuters reported.
2 min read · 23 March 2017
U.S. private equity firm Advent International Corp has withdrawn from a bidding process to acquire Pfizer Inc's Brazilian generic drugs joint venture, leaving rival Bain Capital LP as the only contender for the company, Reuters reported.
2 min read · 23 March 2017
Canadian miner Royal Nickel Corp is teaming up with private equity firm Waterton Global Resource Management to buy, develop and operate undervalued nickel assets, Reuters reported. The venture will have US$35 million to acquire nickel mines and projects, said the companies, and Waterton will pay US$22.5 million for a 50-percent stake in Royal Nickel's Dumont nickel project in Québec, which the partnership will own. The venture, which has earmarked US$5 million to advance development at Dumont, is currently eyeing four to 11 targets that are relatively low-cost and do not need major capital to develop.
2 min read · 22 March 2017
Private equity firm Nordic Capital's Swedish air treatment group Munters is preparing a stock market listing that could value the business at more than 10 billion Swedish crowns ($1.1 billion) including debt, sources told Reuters.
1 min read · 22 March 2017
U.S. organic food delivery service Sun Basket has hired banks for an initial public offering (IPO) that could come in the second half of the year, sources told Reuters.
2 min read · 22 March 2017
U.S. private investment firm Starwood Capital Group slightly raised its offer to buy Canada's Milestone Apartments Real Estate Investment Trust, weeks after proxy advisory firm ISS recommended unitholders to vote against the $1.7 billion deal, Reuters reported. Starwood raised its offer from US$16.15 per Milestone unit to US$16.25. Institutional unitholders, who make up 16 percent of Milestone's voting units, will vote in favour of the new offer, Milestone said. Milestone, which went public in Toronto in 2013, owns and manages apartment properties across the U.S. Southeast and Southwest.
1 min read · 22 March 2017
Autotalks, an Israeli provider of vehicle to vehicle (V2V)communication for improving road safety, said on Wednesday it raised $30 million in a late-stage funding round, bringing to $70 million its total raised to date.
1 min read · 22 March 2017
