Here are the top reads on deals and financial services over the last 24 hours,
Ontario Teachers' Pension Plan veterans launch Peloton private-equity fund: Veterans of the Ontario Teachers' Pension Plan launched a private-equity fund on Thursday with plans to distinguish their firm from a crowded field by making long-term commitments to the businesses they buy. Story (Andrew Willis, for subscribers)
Vanguard Canada shakes up executive ranks, names new country head: Vanguard Canada is shaking up its executive ranks, appointing Kathy Bock as its new country head effective next year. Ms. Bock, who currently serves as principal and head of the Americas region, will replace Atul Tiwari in her new role as head of Vanguard Investments Canada on Jan. 1. Story (Clare O’Hara, for subscribers)
Privacy commissioner launches investigation into Statistics Canada’s efforts to obtain banking records: Privacy Commissioner Daniel Therrien is launching an investigation into Statistics Canada after receiving complaints about the agency’s plan to obtain detailed personal banking records. Mr. Therrien announced the investigation Wednesday afternoon. Story (Bill Curry)
Centerra has ‘refused to engage’ Chaarat Gold’s takeover proposal: A London gold company has disclosed that it made a takeover proposal, valued at about $2-billion, for Toronto’s Centerra Gold as part of its ambition to emerge as a mining force in central Asia. In a statement filed Wednesday with the London Stock Exchange, Chaarat Gold Holdings said that, on Sept. 18, it proposed buying Centerra in an-all cash transaction at 35 per cent above Centerra’s share price, which was then $5.48 (Centerra closed Monday at $4.95, valuing the company at $1.45-billion). Story (Eric Reguly and Niall McGee, for subscribers)
HBC, RioCan in talks to redevelop Vancouver property: Hudson’s Bay Co.'s prized Vancouver retail property is no longer for sale and the department store chain is considering redeveloping the prime real estate with its joint owner RioCan. HBC and RioCan Real Estate Investment Trust had been in talks to sell the property to Chinese billionaire Zheng Jianjiang, the chairman of Chinese manufacturing firm Ningbo Sanxing Electric, The Globe and Mail reported in May. Story (Rachelle Younglai, for subscribers)
MORE DEALS NEWS
Mining sector: Barrick Gold Corp. and takeover target Randgold Resources are boosting their dividend payouts ahead of shareholder votes next week on their US$6.1-billion deal, the miners said on Wednesday. Story
PODCAST
Breaking a 200-year-old model: Insurance coverage in Canada has been largely unchanged since the industry began, so it’s no surprise that lots of Canadians resent the premiums they pay for inflexible policies that often don’t meet their needs. We speak with serial entrepreneur Mike Serbinis about the explosion of on-demand and personalized services, and the way his new company League is challenging the long-standing, “one-size-fits-none” approach to insurance coverage. Podcast
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