Private Equity
The Fonds de solidarité FTQ has committed $29 million to acquire forest land in Maine along the Québec border. The investment, which will be managed by Solifor, a Fonds’ subsidiary, is intended to supply fibre for Québec sawmills and wood processors. Launched in 2005 to acquire and manage privately-owned forest land, Solifor has previously invested $140 million to buy over 153,000 hectares of forests in the Bas-Saint-Laurent, Lotbinière, Charlevoix, Saguenay, Portneuf, Mauricie and Abitibi regions of Québec. It plans to make additional acquisitions in the future.
4 min read · 16 May 2016
Blue Star Sports has acquired Goalline, a Halifax-based provider of sports management software that currently services over 10 million users. No financial terms were released. Blue Star, an integrated software and payments provider to youth sports organizations, said the deal expands its offerings to new and existing customers. The Frisco, Texas-based company, which last month bought Toronto's Pointstreak Sports Technologies, is backed by U.S. private equity firm Providence Equity Partners, Dallas Cowboys owner Jerry Jones, and other investors.
3 min read · 16 May 2016
U.S. telecommunications company AT&T Inc (NYSE: T) has agreed to buy Quickplay Media Inc, a Toronto-based managed video platform that powers premium video over all networks and devices. No financial terms were disclosed for the acquisition, which is expected to close in mid-2016. The primary seller in the deal is U.S. private equity firm Madison Dearborn Partners, which acquired a majority stake in Quickplay for US$100 million in July 2012. Last year, Madison Dearborn and partners Orix Ventures and Difference Capital Financial invested an additional US$57 million in the company. Dallas, Texas-based AT&T said the Quickplay acquisition will enhance its video content delivery capability.
4 min read · 16 May 2016
Toronto-based alternative assets manager Brookfield Asset Management said that it has collected about US$25 billion of capital commitments in its latest round of private fundraising. The amount includes the US$9 billion committed to the final close of the firm's latest real estate fund. It also includes about US$12 billion committed to the initial close of Brookfield's latest infrastructure fund. Earlier this year, the infrastructure group agreed to partner in the acquisition of Australian logistics business Asciano Ltd. Once the deal is closed, Brookfield said it will own all of the ports services operation and 50 percent of the container terminal operation.
10 min read · 16 May 2016
Toronto-based alternative assets manager Brookfield Asset Management said the spin-off and listing of its private equity investment arm, Brookfield Business Partners LP (BBP), will occur on June 20, 2016. The spin-off of BBP, first announced in October 2015, will be accomplished through a special distribution to shareholders valued at about US$0.50 per Brookfield share, or about US$500 million in total. Cyrus Madon, CEO of BBP and a senior managing partner of Brookfield, said the spin-off will give public-market investors exposure to growth opportunities and assets within Brookfield's private equity group. Brookfield is expected to retain about 78 percent of the vehicle's total equity interest.
6 min read · 16 May 2016
Brazil's state-controlled Petróleo Brasileiro SA has entered exclusive talks with Brookfield Asset Management over the sale of natural gas pipeline unit Nova Transportadora do Sudeste SA, as part of a plan to dispose of US$15 billion of non-essential assets by year-end. Reuters reported earlier, citing sources, that Brookfield had offered 18 billion reais (US$5.2 billion) to acquire NTS, as the unit is known, trumping rival bids.
2 min read · 13 May 2016
Sirius XM Canada Holdings Inc said that SiriusXM Holdings Inc, its biggest shareholder, along with two of its top Canadian shareholders, will take the satellite radio service private, Reuters reported. The deal, which values Sirius XM Canada at about $472 million, will see SiriusXM Holdings increase its stake in Sirius XM Canada to 70 percent. The balance will be held by Slaight Communications Inc and Toronto-based private equity firm Obelysk Media.
2 min read · 13 May 2016
Canada's Competition Bureau said it would not block Lowe's Companies Inc's proposed purchase of Canadian company Rona Inc, saying it was satisfied the deal would not substantially lessen competition, Reuters reported. The $3.2 billion takeover bid, which Lowe's unveiled in February, will help the U.S. home improvement retailer compete with Home Depot Inc. Rona's largest investor, the Caisse de dépôt et placement du Québec, has approved the deal.
1 min read · 12 May 2016
At least six offers have been submitted for France's 60 percent stake in Lyon-Saint Exupéry Airport along with three bids for a similar stake in Nice Côte D'Azur Airport, sources told Reuters. France kicked off the privatization of both airports in March as part of plans to raise cash to help meet budget deficit targets. Canadian pension funds Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan are among the many investors expected to submit bids for stakes in one or both of the airports.
2 min read · 12 May 2016
Ontario Teachers' Pension Plan (OTPP) has appointed Sandra McEwen to the position of vice-president, valuations, risk analytics and model validation. McEwen has more than 17 years of audit, valuation and team leadership experience. Prior to joining the pension fund, she worked as vice-president, deals, at PWC Canada. Based in Toronto, OTPP has net assets of $171.4 billion.
1 min read · 12 May 2016
