Duncan HoodFred Lum/The Globe and Mail
It's property day at the Daily Deal Roundup: A new Canada Pension Plan Investment Board joint venture in India has made its first move, snapping up a $220-million (U.S.) IT park, while Onex has quietly unloaded a $400-million (U.S.) shopping mall in New York. And just for a change of pace, a Canadian startup that produces recipes for cannabis-laden treats has just been bought up by U.S. medical marijuana industry supply company Green Technology. Anyone got the munchies?
DEAL OF THE DAY: CPPIB alliance acquires $220-million IT park in India
SPREP Pte. Ltd., a company formed as a part of the strategic alliance in 2013 between the Canada Pension Plan Investment Board (CPPIB) and Shapoorji Pallonji Group, has announced its first acquisition. SPREP will acquire 100 per cent of of Faery Estates Pte. Ltd., an Indian company that owns, operates and maintains SP Infocity IT Park in Chennai, India. The property has been valued at approximately $220-million (U.S.). Press release
MERGERS AND ACQUISITIONS
Mobilicity accepts Rogers' $465-million offer
Mobilicity has accepted a takeover offer from Rogers Communications Inc. and plans to seek court approval of the $465-million sale. The small wireless carrier, which has been under creditor protection since September, 2013, will take the agreement to court Wednesday morning, according to a court filing. Full story
UrtheCast to buy $100-million satellite company
UrtheCast Corp., a Vancouver company that is about to start beaming high-definition video images of the Earth taken from a camera on the International Space Station, has signed a deal to buy two satellites. The company said Monday that it is paying about $100-million for a Spanish company, DOT-Deimos, which owns two functioning satellites that send images from space. Full story
BluEarth acquires $65-million solar power plant from Canadian Solar
BluEarth Renewables has acquired another solar power plant from Canadian Solar Inc., this one valued at roughly $65-million. The LunarLight 10-megawatt AC solar plant in Belleville, Ont., was purchased from Canadian Solar Solutions, a subsidiary of Canadian Solar. Press release
Green Technology to bake in Canadian cannabis recipe company
Green Technology Solutions Inc. announced Tuesday that it has signed a letter of intent to acquire all or a controlling interest in its joint venture partner, Elevated Industries. Elevated Industries is a Canada-based supplier of cannabis-based edible recipes to the North American marketplace. The terms were not disclosed. Press release
3M strikes $1.8-billion deal for KKR's Capital Safety
3M Co. on Tuesday struck a deal to boost its presence in worker protection gear by buying Capital Safety from private equity firm KKR & Co. for $1.8-billion (U.S.), the U.S. diversified manufacturer's largest-ever purchase. Full story
Chinese chat app Momo gets buyout offer from CEO
Momo Inc.'s chief executive officer and a group of investment firms offered to buy all shares of the Chinese mobile chat app company they do not already own for $1.9-billion (U.S.), six months after the company listed in the United States. Full story
Bouygues rejects Drahi's offer to acquire mobile-phone business
Bouygues SA's board rejected Patrick Drahi's offer to acquire its telecommunications unit, a setback for the billionaire seeking to expand his telecommunications empire in France. Full story
INITIAL PUBLIC OFFERINGS
Sleep Country will seek $200-million in share sale
Sleep Country Canada Holdings Inc. is seeking to raise $200-million in its initial public offering, according to regulatory filings. The company aims to sell its shares at $14 to $16 a piece. Full story
PRIVATE EQUITY AND VENTURE CAPITAL
Onex sells $400-million shopping mall to Blackstone
Blackstone Group LP has agreed to buy a shopping mall and garage in New York City's Queens borough from Onex Corp. for about $400-million (U.S.), said two people with knowledge of the transaction. The properties are part of the Sky View Parc mixed-use complex, which is located near New York's third-busiest subway station in Flushing. Full story
Whitecap Venture Partners raises $100-million and invests in Qvella
Whitecap Venture Partners has closed its third technology fund at the upper end of its fundraising target, paving the way for a new investment in Toronto molecular diagnostics company Qvella. Full story
Startup activity ramps up in the U.S. Rust Belt
Ohio has seen an impressive rise in venture capital activity, with a fivefold increase in VC firms in just five years. Other Rust Belt states, such as Michigan are following suit. Full story
ANALYSIS AND INSIGHT
Beetle plague spurs Canadians to go on U.S. lumber-mill buying spree
Chased from their home forests by rising costs and a plague of tree-killing beetles, West Fraser Timber Co., Canfor Corp. and Interfor Corp. have been on a buying spree, doubling the number of mills they own in the U.S. South since 2009 to about 34. Full story
Looking for distressed companies?
Then you might want to check out an updated list of companies that have recently indicated doubt about continuing as going concerns in Securities and Exchange Commission filings, as posted by the Mergers & Acquisitions website (themiddlemarket.com). Canadian companies on the list include: Blox Inc., Claude Resources Inc., Dejour Energy Inc., NXT Energy Solutions Inc. and Reliabrand Inc. Full table
Know of upcoming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? E-mail me at deals@globeandmail.com. I'll respond personally to every e-mail.