Duncan HoodFred Lum/The Globe and Mail
Fairfax's new India Fund picks up another firm, B.C.'s Avcorp buys a struggling German aerostructures division and China Molybdenum makes a play for Barrick's Zaldivar copper mine. Meanwhile Birch Hill just keeps raising more and more PE capital – it's already at $1 billion, and it ain't done yet.
DEAL OF THE DAY: Fairfax India to buy stake in logistics firm NCMSL for $126-million
Fairfax India Holdings, a fund set up by Canadian investor Prem Watsa to target Indian assets, on Monday said it would buy a 74 per cent stake in commodities storage and services firm National Collateral Management Services (NCMSL) for about $126-million. The deal, valued at about 8-billion rupees, is expected to be completed in 2015, Fairfax said in a statement. Full story
MERGERS AND ACQUISITIONS
SGL takes hit on sale of 787 wing-parts maker to Canada's Avcorp
SGL Carbon SE has sold its aerostructures arm to Avcorp Industries Inc. of Delta, B.C., while agreeing to take an impairment charge that could reach a net €55-million ($77-million Canadian) as it offloads a unit that's been a drag on earnings. Full story
China Moly said to emerge as frontrunner for Barrick's Zaldivar
China Molybdenum Co. has emerged as the frontrunner in Barrick Gold Corp.'s sale of a stake in its Zaldivar copper mine, and is pushing to buy the entire asset from the company, people with knowledge of the matter said. Full story
Piper Jaffray agrees to buy BMO's municipal-bond business
Piper Jaffray Cos., the investment bank founded in 1895, agreed to buy Bank of Montreal's GKST Inc. to expand in municipal bond sales, trading and origination. The deal is expected to be completed in the fourth quarter and is subject to regulatory approval, Minneapolis-based Piper Jaffray said Monday in a statement that didn't disclose terms. Full story
Boardwalk REIT inks deal to sell Windsor portfolio
Boardwalk Real Estate Investment Trust has signed a deal to sell its Windsor, Ont., portfolio of buildings for $136.2-million. The buyer of the portfolio of 1,685 units, which includes a mix of townhouses as well as high and low-rise apartments, was not disclosed by the trust. Full story
Just Eat Canada acquires Orderit.ca
Toronto-based Just Eat Canada, which allows customers in Toronto, Vancouver, Calgary, Montreal and other cities to order food delivery from third party restaurants via its website and app, has announced the acquisition of competing food ordering and delivery platform, Orderit.ca. The terms of the acquisition were not disclosed. Press release
Lockheed Martin buying Sikorsky Aircraft for $9-billion
Lockheed Martin Corp said Monday it would buy Sikorsky Aircraft, the helicopter unit of United Technologies Corp, for $9-billion (U.S.), and would review the possible sale or spinoff of $6-billion in other information technology and services businesses. Full story
SunEdison to buy Vivint Solar for about $2.2-billion
SunEdison, a renewable energy company, said on Monday that it and its publicly traded power plant unit, TerraForm Power, would acquire Vivint Solar for about $2.2-billion (U.S.) in cash and securities. The transaction is the latest for SunEdison and follows its agreement in November to buy First Wind, a leading developer and operator of wind farms, for $2.4-billion. Full story
Pearson PLC reportedly mulling sale of Financial Times
Pearson PLC is exploring a sale of the Financial Times after receiving interest from potential buyers, according to people familiar with the matter. London-based Pearson is sounding out possible bidders for the salmon-coloured newspaper, said the people, who asked not to be identified because the deliberations are confidential. A sale may value the business at as much as £1-billion ($2-billion). Full story
INITIAL PUBLIC OFFERINGS
PayPal closes up 5 per cent on Nasdaq as it splits from eBay
PayPal has returned to the public stock markets for the first time in more than a decade in a rousing start. Shares in the payments giant closed up more than 5 per cent, to $40.48 (U.S.), giving the company a market value of nearly $50-billion. The move, prompted in part by investor pressure, separates PayPal from eBay. Full story
PRIVATE EQUITY AND VENTURE CAPITAL
Birch Hill raises $1-billion, keeps going
Birch Hill Equity Partners has raised a little more than $1-billion so far for its newest fund as the Toronto-based midmarket buyout firm scores two blockbuster exits from one of its previous vehicles, said people familiar with the offering. The firm told prospective investors it would cap Birch Hill Equity Partners V LP at $1.25-billion. Full story
BEST Funds invests $3-million in GroupBy Inc.
Tier One Capital LP and B.E.S.T. Active 365 Fund LP, collectively known as BEST Funds, has announced a $3-million investment into GroupBy Inc., an e-commerce technology company based in Toronto. Press release
Know of any upcoming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? E-mail us at deals@globeandmail.com.