The Caisse de dépôt et placement du Québec’s chairman and CEO is expected to go before the provincial legislature’s finance committee to explain the organization’s exposure to third-party asset-backed commercial paper(ABCP), according to media reports. The Globe and Mail and the Montreal Gazette report that efforts are being made for Henri-Paul Rousseau to make a […]
The Ontario Teachers’ Pension Plan has agreed to invest $35 million in Railpower Technologies Corp. “We chose to invest in Railpower because of its market potential,” says Brian Gibson, senior cice-president, public equities at Teachers’. “We expect that increasingly stringent environmental regulations in North America and globally will open up new markets for Railpower’s current […]
The CPP Investment Board(CPPIB)intends to make a partial takeover offer to all shareholders of Auckland International Airport Limited(AIAL). If successful, the offer would increase CPPIB’s shareholding in AIAL to 40%, which CPPIB believes would then enable its amalgamation proposal to be put to shareholders for their consideration. “In the past few days, we have received […]
The Ontario Superior Court of Justice has approved the settlement between the Trustees of Ironworkers Ontario Pension Fund and Research In Motion. It declared that the settlement is fair and reasonable and in the interests of RIM’s shareholders. The Canadian Press reports that under the agreement, Research In Motion’s co-CEOs Jim Balsillie and Mike Lazaridis […]
Auckland International Airport says discussions with the CPP Investment Board in relation to a proposal for CPPIB to acquire a significant interest in Auckland Airport have ceased. A majority of directors say they do not believe that pursuing the proposal would be in the “best interests” of shareholders or the company and therefore will not […]
DBRS says some of the frozen asset-backed commercial paper(ABCP)in Canada is linked to U.S. residential mortgage-backed securities(RMBS). Approximately 77% of the transactions, calculated by funding amounts, within the affected trusts consist of collateralized debt obligations(CDOs), says the credit rating agency. The remaining 23% consist of “traditional” assets such as mortgages and auto receivables. “DBRS believes […]
The pan-Canadian investors committee overseeing the restructuring of third-party asset-backed commercial paper(ABCP)expects to have the problem resolved by mid-December, said the committee’s chairman. “We expect to be able to provide investors with definitive restructuring proposals for each affected conduit prior to the expiry of extended standstill agreement,” said Purdy Crawford during a conference call this […]
Corporate disclosure on carbon emissions and other environmental issues is becoming increasingly important, and may be a key concern for investors when considering possible investments. The Conference Board of Canada announced the results of the 2007 Carbon Disclosure Project(CDP)Canada report in Toronto today. Chaired by Jeffrey Simpson, columnist for The Globe and Mail, the event […]
The Ontario Teachers’ Pension Plan has bought investment research and governance services provider Glass, Lewis & Co. for US$46 million. It acquired the San Francisco-based firm from Xinhua Finance Limited of Shanghai. “Corporate governance has always been an important issue for institutional investors like Teachers’,” says Brian Gibson, the pension fund’s senior vice-president, public equities. […]
Barclays has dropped its offer to buy ABN Amro—which would have made the combined firms the world’s largest institutional asset manager—because investors failed to support the bid. Instead, a group comprised of Royal Bank of Scotland, Banco Santander, and Fortis will pay US$101.6 billion ABN and split up the Amsterdam-based financial institution. Belgium’s Fortis will […]