A group led by Brookfield Asset Management, which includes the Caisse de dépôt et placement du Québec and Goldman Sachs, are preparing an offer to take Canadian Pacific Railway private, according to a report. The Globe and Mail says the group made a proposal to the railroad company in spring, but was turned down. “Earlier […]
The proportion of seniors in the Canadian workforce is growing fast and will have a major impact on employers, according to a Statistics Canada report. The report—Portrait of the Canadian Population in 2006, by Age and Sex: Findings—finds that the number of people aged 55 to 64 has never been so high, at nearly 3.7 […]
TD Bank is providing $3.8 billion in financing for the takeover of BCE by a group including the Ontario Teachers’ Pension Plan. The bank has underwritten $3.3 billion of a $34.3 billion credit facility and will acquire a minority stake in the telecom company for $500 million. “While these commitments are large,” TD says in […]
Some of the country’s largest pension funds want the federal government to eliminate a rule that can make investment strategies more complex and sometime put them at a disadvantage regarding takeovers, a report says. Reuters says that the Ontario Teachers’ Pension Plan and the Ontario Municipal Employees Retirement System are lobbying to have a rule […]
The Teachers Retirement System of Texas is planning to put nearly one-third of its assets into alternative investments, according to a report. The Wall Street Journal says the strategy is an attempt to boost returns by 1% annually. Currently, the fund has only about 5% of its assets in real estate, hedge funds and private […]
A group led by Royal Bank of Scotland has revised its offer for ABN AMRO after a court ruled that the Dutch bank could sell its U.S. retail operations to Bank of America. The previous bid by RBS, Belgium’s Fortis and Spain’s Santander was subject to a precondition that ABN AMRO hold on to the […]
Cadbridge Investors—a division of the Caisse de dépôt et placement du Québec and Westmont Hospitality Group—and InnVest Real Estate Investment Trust are buying Legacy Hotels. The all-cash transaction is valued at approximately $2.5 billion, including debt. “This acquisition provides us with an important ownership platform in this industry, combining talented people, well-known brands and an […]
Fourteen organizations from across Canada announced have formed the Common Front for Retirement Security(CFRS)to advocate for better governance of pensions, investments and retirement savings. The group shares concerns expressed by Bank of Canada Governor, David Dodge, about defined benefit pension plans that is echoed by the Canadian Institute of Actuaries. “The problems have been clearly […]
The latest rules imposed by the Regie de l’assurance maladie du Quebec(RAMQ)regarding Bill 130 will cause some difficulties for plan sponsors, according to a report from Morneau Sobeco. The most important element is the coverage of children that ends when they turn 18 unless they are full-time students. Most group benefits plans stop providing coverage […]
Teachers’ Private Capital has completed its purchase of Dynea North America from Finland’s Dynea Chemicals. Financial details of the transaction were not disclosed. “We’re proud to be supporting Dynea North America’s emergence as an independent, North American owned and operated company,” says Jim Leech, senior vice-president of Teachers’ Private Capital. Effective immediately, the specialty resins […]