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 […]
Institutional investors are less confident this month, according to the State Street Investor Confidence Index. Global investor confidence fell by 7.5 points to a level of 92.1. As with last month, North American institutional investors were responsible for a large portion of this global move as their confidence declined to 106.0 from 117.1. In Europe, […]
As companies deal with managing benefits costs while attracting and retaining skilled talent, the link between employee benefits strategies and business and financial goals is expected to increase over the next five years, says a report. Prudential Financial’s Employee Benefits: 2007 & Beyond report finds that plan sponsors are shifting even more benefits costs and […]
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 […]
Statistics Canada says the value of employer-sponsored trusteed pension funds increased for the third consecutive quarter between January and March of this year. These assets were worth $936.1 billion in the first quarter, up 2.3% from the fourth quarter of 2006. Assets have been rising since a 2.1% decline in the second quarter of last […]
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 […]
The California Public Employees’ Retirement System(CalPERS)has allocated US$546 million to a European private equity manager. Standard Life Investments(Private Equity)Limited(SLIPE)will deploy the capital into small to middle market buyout funds in Europe, creating a middle market European fund of funds. “Our new partner offers us unique access to the premier managers and co-investment opportunities in Europe, […]
The use of temporary workers—once viewed primarily as a stop-gap measure—is including in the long-term planning efforts of a majority of companies, according to a survey. Seventy-six percent of executives polled say this flexible staffing practice now has a place in their overall human resources budget. “The need for companies to be more agile and […]