Canadian energy company Veresen Inc said on Tuesday it would sell its power generation business, its largest division, for US$1.18 billion in three separate deals, Reuters reported. The sale, which is expected to close in Q2 2017, will also allow Veresen to strengthen its balance sheet, as well as focus on its pipeline and midstream businesses. Calgary-based Veresen owns 50 percent of a joint venture with U.S. private equity firm KKR & Co LP called Veresen Midstream.
1 min read · 21 February 2017
Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, said on Tuesday it would acquire Popeyes Louisiana Kitchen Inc for US$1.8 billion in cash, Reuters reported. The deal is a bet by Oakville, Ontario-based Restaurant Brands that it can use its international reach to introduce Popeyes' Louisiana-style fried chicken and buttermilk biscuits to more diners globally. Popeyes began 45 years ago as a Southern-fried "Chicken on the Run" restaurant in a New Orleans suburb. It has since expanded to more than 2,000 restaurants. Private equity firm 3G Capital, which is controlled by Brazilian billionaire Jorge Paulo Lemann, owns about 43 percent of the voting shares in Restaurant Brands.
2 min read · 21 February 2017
Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance, Reuters reported.
3 min read · 21 February 2017
strong>Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, is nearing a deal to acquire Popeyes Louisiana Kitchen Inc, Reuters reported.
2 min read · 21 February 2017
The Bank of Portugal will hold a final round of exclusive negotiations with U.S. private equity firm Lone Star as it seeks to flesh out the terms of the potential sale of state-rescued lender Novo Banco, the central bank said on Monday.
1 min read · 20 February 2017
British fashion retailer Reiss named former Next executive Christos Angelides as its new chief executive on Monday in a move aimed at allowing founder and chairman David Reiss to scale back his responsibilities.
1 min read · 20 February 2017
U.S. food company Kraft Heinz Co (KHC.O) withdrew its proposal for a $143-billion merger with larger rival Unilever Plc (ULVR.L), the companies said on Sunday, raising questions about whether Kraft will turn its focus to another target.
4 min read · 20 February 2017
Ontario Teachers' Pension Plan (OTPP) is looking to sell minority stakes in Britain's Bristol and Birmingham airports, a source told Reuters. OTPP, which manages around $170 million and is a big investor in British infrastructure projects, currently owns 100 percent of Bristol Airport and around 50 percent of Birmingham Airport. While keen to remain invested in the assets, the pension fund is looking to take advantage of demand from long-term investors for the often-attractive returns on offer from high-quality infrastructure, the source said.
1 min read · 17 February 2017
Kinder Morgan Inc has begun talks with investors, including major Canadian pension funds and private equity firms, to raise capital for the $6.8 billion expansion of its Trans Mountain pipeline project, Reuters reported. Kinder Morgan has held discussions with Canada Pension Plan Investment Board, Caisse de dépôt et placement du Québec and Ontario Teachers' Pension Plan Board, the sources said. Kinder Morgan has owned the pipeline since 2005 when it bought Canada's Terasen Inc. The expansion project will make Trans Mountain one of the biggest pipelines in North America.
2 min read · 17 February 2017
Unilever (ULVR.L) rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz Co (KHC.O) on Friday, saying it saw no reason to discuss a deal which it said had no financial or strategic merit.
2 min read · 17 February 2017
