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DEAL OF THE DAY: Antares Capital lining up financing in deal to CPPIB
Antares Capital is lining up a $13.9-billion (U.S.) financing package that backs General Electric Capital Corp's sale of the middle market sponsor finance platform to Canada Pension Plan Investment Board (CPPIB) and raises funds for future growth, sources said. The package for the acquisition, which was announced on June 9, consists of a $1.2-billion term loan A and a $2-billion revolver, as well as a $10.7-billion asset-based facility, the sources said. Full story
MERGERS AND ACQUISITIONS
Premier drops bid to acquire Russell Breweries, will work with board instead
Investment company Premier Diversified Holdings Inc. and Russell Breweries Inc., a western Canadian brewer, announced they've come to an agreement on Premier's proposed acquisition of 51 per cent of Russell. As part of the agreement, Premier will drop its bid. In exchange, Russell will rejig its board and allow Premier to increase its ownership of the company to 19.99 per cent with some restrictions. Press release
Gambling firm GVC considering options for Bwin.party
Online gambling firm GVC Holdings PLC said it was considering its options regarding Bwin.party Digital Entertainment, which recently accepted a bid from 888 Holdings PLC. Online casino and poker firm 888 clinched a deal worth nearly £900-million ($1.40-billion) to buy Bwin.party last week, lower than a rival £908-million bid from GVC and its Canadian partner Amaya Inc. Full story
Bonduelle prepares bid for Green Giant
French food group Bonduelle SCA is in discussions to team up with Centerview Partners in a bid to acquire General Mills Inc.'s Green Giant frozen and canned vegetable business, according to people familiar with the matter. Full story
FCC chair proposes to approve AT&T-DirecTV merger
U.S. Federal Communications Commission Chairman Tom Wheeler on Tuesday circulated an order to approve, with conditions, AT&T Inc's bid to buy DirecTV for $48.5-billion, according to three people familiar with the matter. Full story
INITIAL PUBLIC OFFERINGS
NanoLumens takes another step toward IPO
NanoLumens Inc., a manufacturer and marketer of visualization solutions, and its holding company NanoLumens Ltd. announced that NanoLumens Ltd. filed an amended and restated preliminary prospectus with the securities regulatory authorities in all Canadian provinces for an initial public offering. Press release
PRIVATE EQUITY AND VENTURE CAPITAL
Damon Capital Corp and eSight Corp to merge
Damon Capital Corp., a capital pool company, has entered into an agreement with eSight Corporation, a Toronto-based assistive technology company, that will amalgamate the companies. Press release
500px raises $13-million in Series B funding
Toronto-based 500px, a community for buying and selling photography, has closed a $13-million (Canadian) Series B round led by strategic investor Visual China Group. All major investors from the Series A – including Andreessen Horowitz, Harrison Metal and ff Venture Capital – participated in the round. Press release
ANALYSIS AND INSIGHT
Global regulators may soften rules for asset-backed financing
Global regulators may ease restrictions on asset-backed or pooled-debt in a policy shift that banks and European policy makers say is needed if financial markets are to play a bigger role in funding economic growth, two financial industry sources said on Tuesday. Full story
K+S shrugs at Potash's latest approach
Mineral miner Potash Corp. has made a fresh attempt to win over the management of takeover target K+S and the German regional state of Hesse, where it is headquartered, but failed to entice K+S into merger talks. Full story
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