Sears Canada Inc will seek court approval to liquidate all its remaining stores and assets after the 65-year-old retail chain failed to reach an agreement to continue to operate, Reuters reported. Sears Canada has lost market share and struggled to remain relevant to shoppers who have switched to stores that keep up with fast-changing fashion trends. Its sales have fallen every quarter since it was spun off from Sears Holdings Corp in 2012. The company had been in negotiations with Executive Chairman Brandon Stranzl, who stepped away from day-to-day operations to come up with a proposal to keep the company afloat. The Wall Street Journal reported last month that Stranzl was negotiating a private-equity backed deal that could be valued at more than $650 million (US$533 million).
2 min read · 10 October 2017
Buyout group Cinven is close to the sale of the German industrial ceramics group Ceramtec to BC Partners, two sources told Reuters.
1 min read · 10 October 2017
Brookfield Asset Management's Public Securities Group (PSG) has agreed to buy Center Coast Capital Holdings, an energy infrastructure-focused investment firm, for an undisclosed amount, Reuters reported. Houston-based Center Coast has over US$4 billion of assets under management and will allow the Brookfield unit to bolster its product offering to include investments in energy assets such as tax-efficient master limited partnerships (MLPs), which house midstream assets. The investment comes amid renewed interest from large asset managers to buy into energy investment firms which focus on MLPs, after question marks were raised over the structure's long-term viability.
2 min read · 10 October 2017
HelloFresh plans a flotation that could value the German meal kit delivery group at up to 1.5 billion euros ($1.8 billion), testing investor appetite after a sharp decline in shares in U.S. rival Blue Apron (APRN.N), Reuters reported.
3 min read · 10 October 2017
Ready meals supplier Bakkavor said on Tuesday that it plans to list at least a quarter of its shares on the London Stock Exchange in early November, in a deal that sources say could value it at up to 1.5 billion pounds ($1.97 billion).
1 min read · 10 October 2017
Irish homebuilder Glenveagh Properties on Friday said it was set to raise 550 million euros ($647.30 million) in Ireland’s second-largest initial public offering since the 2008 financial crisis amid a housing crisis in Europe’s fastest growing economy.
1 min read · 10 October 2017
JPMorgan Chase & Co (JPM.N) and Temasek Holdings have led a $100 million investment in Bill.com, a Palo Alto, California-based company that helps business digitize their payments.
2 min read · 10 October 2017
Tujia.com, China’s biggest short-term property rental firm, said on Tuesday it had raised $300 million from investors, valuing it at more than $1.5 billion as it looks to tap growing demand from Chinese tourists for independent travel.
1 min read · 10 October 2017
Activist investors are stepping up campaigns to drive change in Canada’s $67 billion real estate investment trust sector as they see attractive prices and opportunities to unlock value, Reuters reported. Activists are also looking to tackle perceived corporate governance issues such as high management and board compensation, as well as to tap frustrations from institutional investors about under-performing stocks. Canadian REIT activism has been on the rise in recent years, according to figures from Activist Insight, even as activism in the broader Canadian market has dropped after peaking in 2015.
3 min read · 10 October 2017
Pfizer Inc (PFE.N) said on Tuesday it was reviewing strategic alternatives for its consumer healthcare business, including a full or partial separation of the unit, Reuters reported.
1 min read · 10 October 2017
