The deal by a consortium led by the Ontario Teachers’ Pension Plan to take BCE private will likely be delayed because the Canadian Radio-television and Telecommunications Commission is planning to hold public hearings on the takeover, according to a newspaper report. The Globe and Mail reports that the consortium tried to convince the CRTC that […]
Airport Group Investments Ltd.(AGIL), a company owned by the Ontario Teachers’ Pension Plan(Teachers’)and Australia’s Victorian Funds Management Corp.(VFMC), now owns a 48.25% interest in Birmingham International Airport. AGIL acquired the shares from Macquarie Airports Group Ltd. and Aer Rianta International for approximately $875 million after the close of a competitive tender process launched nine months […]
The CPP Investment Board intends to submit a proposal under which it would acquire a significant minority stake in Auckland International Airport Limited(AIAL). The board has formulated a framework for an amalgamation that it will discuss with AIAL at a meeting scheduled for tomorrow. The framework for amalgamation formulated by the CPPIB would provide shareholders […]
The Caisse de dépôt et placement du Québec says it has rapidly re-established its normal level of liquid assets despite the non-bank asset-backed commercial paper(ABCP)crisis. The Caisse is able to meet all its depositors’ liquidity requests and adequately meet its own needs. The Caisse no longer considers ABCP to be part of its short-term liquid […]
Alternative trading systems (ATSs) are expected go mainstream next year as electronic trading becomes more popular, says a report. The Competitive Metrics report, 2007 Buy-side Equity Trading in Canada: Exchange, Upstairs, ATSs, What’s Next? finds that buy-side traders plan to conduct one-quarter of their equity trading electronically and nine out of 10 buy-side trading desks […]
DBRS has updated its rating criteria for asset-backed commercial paper(ABCP)and has adopted a global liquidity standard. The credit rating agency says the new standard “removes any requirement for a market disruption as a condition precedent to funding.” The market for non-bank ABCP nearly collapsed last month in the wake of a global credit crunch. DBRS […]
A committee chaired by Imasco’s former chairman and CEO, lawyer Purdy Crawford, has been formed to oversee the proposed structuring process of the third-party asset-backed commercial paper(ABCP). The committee includes investors who were signatories to the so-called “Montreal Proposal”, plus other significant holders. “Our investor committee will be looking to implement a solution that addresses […]
The CPP Investment Board intends to submit a proposal to acquire a significant minority stake in Auckland International Airport Limited(AIAL). The board would limit its stake to not more than 49% and any desire by Manukau City Council and Auckland City Council to maintain their proportionate stakes in AIAL would be fully accommodated. The CPPIB […]
The Ontario Teachers’ Pension Plan has completed its purchase of interests in two Chilean water utilities. The plan has acquired 50.8% of Empresa de Servicios Sanitarios del Bio-Bio(ESSBIO)—which continues as a publicly traded company—for $356.5 million. It has also bought 100% of Aguas Nuevo Sur Maule(ANSM), a privately held company, for an undisclosed amount. Stakes […]
The Ontario Teachers’ Pension Plan and its partners will stay committed to the terms of the deal to buy BCE. In a statement released by Teachers’, the group—which includes Providence Equity Partners and Madison Dearborn Partners—says “they remain committed to the terms of the definitive agreement reached on June 30, under which the investment partners […]