The head of the Canada Pension Plan Investment Board warned lawmakers not to interfere in its investment policies saying it should operate "at an arm's length" from the government, Reuters reported. The Liberal government is looking for ways to attract private investors such as pension funds to invest in new infrastructure projects, having committed to spending $125 billion over the next 10 years. Speaking to the House of Commons Finance Committee on Tuesday, CPPIB's CEO Mark Machin said the fund would welcome more opportunities to make investments of more than $500 million in Canadian infrastructure, but cautioned that political pressure to invest would be unwelcome.
2 min read · 01 November 2016
Loss-making Indian car parts maker Amtek Auto is expected to shortly shortlist bidders for its German unit Tekfor as soon as next week, a year after starting a bumpy divestment process last year, sources told Reuters.
1 min read · 01 November 2016
Malaysia's largest fast food operator QSR Brands has hired three banks, including Citigroup (C.N) and Credit Suisse (CSGN.S), to lead its initial public offering (IPO), sources told Reuters.
2 min read · 01 November 2016
Shares of Chinese pork producer COFCO Meat Holdings Ltd, backed by a private equity group including KKR & Co, plunged in their trading debut on Tuesday, underscoring tepid investor demand for the deal, Reuters reported.
1 min read · 01 November 2016
The former chairman of Performance Sports Group Ltd, which has filed for bankruptcy, said in an interview that he is talking with U.S. and Canadian private equity firms about submitting a bid for the company, Reuters reported. Ex-Chairman Graeme Roustan said many private equity firms had approached him to determine next steps. Roustan said he opposes Sagard Capital's US$575 million deal with Performance Sports and intended to ask the U.S. Department of Justice and Canadian competition authorities to investigate.
3 min read · 31 October 2016
Enterprise Holdings Inc, the world's No. 1 car rental company, has struck a deal to buy a 20 percent stake in Brazilian peer Unidas SA for an undisclosed amount, reflecting growing interest in an industry that has weathered the country's roughest recession since the 1930s, Reuters reported.
1 min read · 31 October 2016
Power producer NextEra Energy Inc (NEE.N) said on Monday it would buy the remaining stake in Oncor Electric Delivery Co for about $2.4 billion in cash.
1 min read · 31 October 2016
Southeast Asia-focused, Toronto-listed Mitra Energy Inc is set to raise about US$80 million in capital to help drive growth through acquisitions, a source told Reuters. The source said funds leading the raise would include European hedge fund Tyrus Capital, Canadian hedge fund West Face Capital and U.S. hedge fund Livermore Partners, some of the biggest shareholders in Mitra. The company completed a reverse takeover of Vancouver's Petra Petroleum Inc in early 2015.
2 min read · 31 October 2016
Performance Sports Group Ltd, the maker of Bauer ice hockey gear, said it has filed for bankruptcy protection in the United States and Canada to facilitate a restructuring and sale of almost all of its assets, Reuters reported. The company also said it has entered into an asset purchase agreement with an investor group led by its biggest shareholder, Sagard Capital, and Fairfax Financial for US$575 million, under which they will buy almost all of the company's assets. The investors will also serve as "stalking horse" bidders through the restructuring process.
2 min read · 31 October 2016
CenturyLink Inc said on Monday it would buy Level 3 Communications Inc in a cash-and-stock deal valued at about $34 billion, including debt, Reuters reported.
1 min read · 31 October 2016
