Online food delivery company Just Eat has agreed to buy rivals hungryhouse in Britain and SkipTheDishes in Canada, spending more than US$300 million to strengthen its leading position in both markets, Reuters reported. The London-listed firm said it would pay an initial $110 million for Winnipeg's SkipTheDishes, a delivery service focused on lower density metropolitan and suburban areas which has 2,900 restaurants listed and 350,000 active customers. SkipTheDishes raised a seed round in June 2015.
2 min read · 15 December 2016
The U.S. IPO market is expected to bounce back next year after a forgettable 2016, fueled by a sunnier economic outlook and a bit more certainty following the presidential election - factors that encouraged the Federal Reserve to hike interest rates, Reuters reported.
3 min read · 15 December 2016
Lonza Group AG announced its biggest ever acquisition on Thursday with a deal to buy Capsugel, a U.S. maker of capsule products and other drug delivery systems, for $5.5 billion in cash to broaden its product range as a pharmaceuticals industry supplier, Reuters reported.
3 min read · 15 December 2016
Multiple suitors are weighing bids to challenge the US$575 million offer for Performance Sports Group Ltd made by a financial consortium in the bankruptcy court auction of the Bauer hockey gear maker, sources told Reuters. Private equity firms Thomas H. Lee Partners LP, Bain Capital LP, KKR & Co LP, KPS Capital Partners LP, and Sycamore Partners have indicated their interest in the Canadian-born sporting goods company, the sources said. British retailer Sports Direct International plc and Canadian pension fund manager Caisse de dépôt et placement du Québec have also submitted letters of interest.
2 min read · 14 December 2016
A consortium led by Africa-focused power producer Endeavor Energy began building a $552 million, 200-megawatt power plant in Ghana on Wednesday, it said in a statement.
1 min read · 14 December 2016
Multiple suitors are weighing bids to challenge the $575 million offer for Performance Sports Group Ltd made by a financial consortium in the bankruptcy court auction of the Bauer hockey gear maker, sources told Reuters.
2 min read · 14 December 2016
Business has doubled for Canadian financial technology company Financeit since it purchased the home improvement financing assets of Toronto-Dominion Bank and the company is seeking more acquisitions, its founder told Reuters. TD sold its indirect home improvement financing assets, which had a book value of $339 million, in September, to Financeit and Concentra, a provider of services to credit unions, in a deal that added more than 800 merchant dealers to Financeit's portfolio. CEO Michael Garrity, Financeit's founder, said the deal had transformed his business, doubling its loan value and revenue, and Financeit would now consider more acquisitions.
2 min read · 14 December 2016
Sovereign wealth funds are queuing up to finance the West's overhauls of crumbling roads, bridges and ports as public purse strings are loosened after a period of austerity, but they still face project delays and fierce competition for deals, Reuters reported. Qatar's sovereign fund was first off the blocks this week, promising US$10 billion for U.S. infrastructure after President-elect Donald Trump floated plans to spend up to US$1 trillion on projects that will take years to complete. Britain has flagged projects worth nearly US$632 billion, including expanding Heathrow airport and high-speed rail, European governments are backing more spending on energy, transport and telecoms, and Canada is speaking to SWFs and pension funds to create an infrastructure bank.
4 min read · 14 December 2016
Brazil's Gafisa SA has agreed to sell a minority stake in Construtora Tenda SA in a private deal following the collapse of a planned initial public offering for its low-cost homebuilding subsidiary, Reuters reported.
1 min read · 14 December 2016
Liberty Media Corp (LMCA.O), led by U.S. cable mogul John Malone, said on Wednesday it would raise $1.55 billion to fund its acquisition of Formula One racing car series, Reuters reported.
1 min read · 14 December 2016
