Beauty products maker Coty Inc (COTY.N) said it would buy a 60 percent stake in privately held online cosmetics retailer Younique LLC for about $600 million as it reduces its dependence on its ailing fragrance business, Reuters reported.
1 min read · 11 January 2017
2 min read · 11 January 2017
Canadian online investment startup Wealthsimple expects to have over a billion dollars in assets under management this year as it plans for significant growth in 2017, its chief executive told Reuters.Launched just two years ago and backed by Power Financial Corp, the startup currently has about 15,000 clients in Canada investing some $750 million in exchange traded funds. "We're planning on some really major growth this year. We're certainly looking to cross the billion (dollar) threshold in very short order and get to billions very quickly thereafter," said Mike Katchen, the 29-year-old founder and CEO of the Toronto-based company.
2 min read · 10 January 2017
Canadian oilfield services provider Savanna Energy Services Corp said it would open its books this week to potential suitors interested in a deal with the company, Reuters reported. Calgary-based Savanna said it also planned to explore strategic alternatives, which may include a sale of the company among other options. In November 2016, Canadian pension fund manager Alberta Investment Management Corp (AIMCo) agreed to provide Savanna with about $219 million in debt and equity financing.
1 min read · 10 January 2017
U.S. software company Anaplan, which has raised more than $240 million, has tied up a critical loose end as it steams toward an initial public offering expected this year: hiring a chief executive officer, Reuters reported.
2 min read · 10 January 2017
Canadian apparel maker Gildan Activewear Inc (GIL.TO) has won a bankruptcy auction for U.S. fashion retailer American Apparel LLC after raising its offer to around $88 million, Reuters reported.
2 min read · 10 January 2017
Yahoo Inc said Monday that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc, Reuters reported.
1 min read · 10 January 2017
Network International, the largest payment processing firm across the Middle East and Africa, has appointed Simon Haslam as chief executive, it said on Sunday.
1 min read · 09 January 2017
Sun Capital Partners Inc, the private equity owner of Limited Stores LLC, disclosed on Friday it has almost doubled its investment in the troubled U.S. women's apparel retailer, even as it announced that it will shut all approximately 250 The Limited stores amid losses, Reuters reported.
2 min read · 09 January 2017
Canadian private equity firm Onex Corp is nearing a deal to acquire Ferrara Candy Co, potentially valuing one of the largest U.S. makers of non-chocolate confectionary at close to US$1.3 billion, including debt, sources told Reuters. Onex has prevailed in an auction for Ferrara and is now negotiating final terms with its owner, U.S. private equity firm L Catterton, the sources said. The deal would be a big bet for Onex on Ferrara's increasing clout and pricing power in the seasonal candy market.
2 min read · 09 January 2017
