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Leadership
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October 2019
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- Aug 14, 2019
Canadian airline WestJet’s acquisition by Toronto based investment fund Onex Corporation has been approved by shareholders. With 60% of voting shares and 54% of stock options represented at the meeting, over 92.5% of those voting were in favor of the deal. Ed Sims, WestJet's President and Chief Executive Officer, said, "We are very pleased to obtain overwhelming supp...
Toronto based Sun Life Financial has announced the completion of its acquisition of real estate investment firm BentallGreenOak. The financial services company said the acquisition meant that BentallGreenOak would become the real estate pillar of its new institutional asset management business, SLC Management. "We're excited about the completion of the BentallGreenOak acqu...
Canopy Growth Corporation, the Ontario based cannabis company, has announced its financial results for the fourth quarter of FY19. In the company’s June 20 press release, Canopy Growth highlighted the achievement of annual net revenue growth of 191% to $226.3mn. In the fourth quarter, revenue grew by 13% versus the third quarter, which the company credited to value-added products,...
Toronto’s GMP Capital has announced it is to sell its capital markets business to fellow financial services firm Stifel Financial Corp., of St. Louis, Missouri. The move comes after a strategic review undertaken by GMP capital. The process resulted in a special committee comprised of the company’s board of directors recommending that the transaction would be in the best inte...
Canadian financial services firm Canaccord Genuity has announced that it is to acquire the Australian business Patersons Securities Limited, which operates in the same industry. The deal is to be done via Canaccord Genuity’s Australian subsidiary, Canaccord Genuity Australia. Canaccord is to pay AU$25mn (US$17.4mn) representing AU$0.2355 per share. “This transaction bui...
Canadian Utilities, the Calgary based energy company, has announced an agreement for the sale of its fossil fuel based electricity generation portfolio. Heartland Generation Ltd., an affiliate of US-based Energy Capital Partners, will pay approximately CA$835mn (US$620.5mn) for Canadian Utilities’ portfolio, with the sale expected to close, subject to regulatory approval and other...
VersaPay, the Toronto based financial technology company, has announced its results for the first quarter of 2019. The highlight of the results was a year over year growth in revenue of 90%, growing to CA$1.95mn (US$1.45mn). "The biggest driver of this was ARCTM which grew 175% year-over-year to $1.46 million," said Craig O'Neill, CEO of VersaPay. "Our recurring ...
Premium Brands Holdings Corporation, the Richmond, British Columbia based food manufacturing and distribution company, has announced it is to receive an investment of approximately CA$200mn (US$149.3mn) from the Canada Pension Plan Investment Board (CPPIB). CPPIB will purchase 2.631mn shares at $76.02 each, resulting in a stake of approximately 7.1% in Premium Brands. "Pr...
IBS Software, the travel technology specialist, has announced its acquisition of Montreal, Canada based aviation software provider AD OPT. The company was acquired from Kronos Incorporated in the US for an undisclosed, multi-million dollar figure. AD OPS are currently the providers of crew planning and optimization software to airlines such as Air Canada, EasyJet, Emirates, FedEx, Garud...
The Canadian airlines Air Canada and Transat have announced that they have entered into a 30-day period of exclusive negotiations regarding the former’s acquisition of the latter. The two airlines, both headquartered in Montreal, Quebec, are of different sizes and specialities, with the smaller Transat describing themselves as a holiday airline. The proposed transaction, valued at...
Canadian airline WestJet has announced it is to be acquired by Toronto based investment fund Onex Corporation. The second largest airline in the country, WestJet will be acquired for CA$31 per share, meaning the transaction will come in at roughly CA$5bn (US$3.71bn). The board say that they have unanimously agreed to the deal, and have recommended shareholders vote for the deal in a spe...
Air Canada has confounded expectations to report a first quarter profit, despite challenges stemming from the grounding of the Boeing 737 Max. With its 737 Max fleet grounded and an attendant reduction of between 3-4% in its seat capacity, operating revenue came in at CA$4.453bn (US$3.3bn), an increase of CA$383mn (US$284.2mn) compared to the CA$4.07bn (US$3.02bn) recorded in last year&...
Toronto-headquartered FSD Pharma Inc announced today that, in order to further its research and development efforts, it has signed a definitive agreement to acquire US-based specialty R&D pharmaceutical company Prismic Pharmaceuticals. The deal will see FSD pay a total of US$17.5mn for Prismic. “This transaction symbolizes FSD Pharma’s vision of acquiring a platform comp...
The Toronto-based gold producer, Yamana Gold, has agreed to sell the Chapada mine to Lundin Mining. Also headquartered in Toronto, Lundin will acquire the mine for CA$1bn (US$747mn). “Under the terms of the agreement with Lundin, Yamana will receive cash consideration of $800 million at closing, additional consideration of up to $125 million based on the price of gold, a $100...
The Victoria-headquartered technology holding firm, Tiny, has acquired a majority stake in the California-based design agency, Pixel Union. Pixel Union offers a range of web services, such as designing theme for online platforms and building sites, BetaKit reported. Tiny founded the business in 2009, but later sold a majority stake in Pixel Union to Teligence Capital in 2014. ...
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NWT & Nunavut Chamber of Mines
Nunavut, Canada
