Streetwise
 

September 22, 2019

 
Streetwise newsletter: Best reads of the week
  Streetwise newsletter: Best reads of the week
Here are the top reads on deals and financial services over the last week,

 
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS

 
Chinese mining company Jiangxi targeting First Quantum for potential takeover bid, sources say: State-controlled mining company Jiangxi Copper Corp. Ltd. is stalking Vancouver-based First Quantum Minerals Ltd., owner of the largest copper mine in Africa, an approach driven by the Chinese government’s drive to lock up supplies of natural resources in the continent. Story (Andrew Willis, Niall McGee)

 
WeWork’s dud IPO burns big-name investors, not the little guys, and isn’t that nice for a change? To listen to Adam Neumann, co-founder and boss of WeWork, is to listen to a motivational speaker shorn of all self-doubt, convinced he imparts rare wisdom. “If more people follow their superpowers – and everyone has one – then we’re going to be a better society,” the 40-year-old, Israeli-born entrepreneur has said. Opinion (Eric Reguly)

 
Choice Properties REIT sells 30 properties for $426-million: Choice Properties Real Estate Investment Trust has signed a deal to sell 30 properties in mostly smaller communities across Canada for $426-million. The buyer was not immediately identified. The portfolio includes 27 stand-alone retail properties and three distribution centres. Story (The Canadian Press)

 
Airbnb plans public listing in 2020: Airbnb Inc. said Thursday it plans to go public in 2020, a long-awaited move by the home-sharing company that is both loved and reviled for its disruption of the hotel business. Story (The Associated Press)

 
AGF Management scores windfall from merger of two British money managers: AGF Management Ltd. scored a bigger-than-expected $320-million payday from the planned merger of two large British money managers, leading analysts to shift their views on a Toronto-based investment company that had been in a long slide. Story (Andrew Willis)

 
Canfor investor says Pattison take-private bid ‘significantly undervalues’ the company: An investment management company that controls about 4.8 per cent of the shares of Canfor Corp. says it will vote against the proposal by a Jim Pattison Group company to take the lumber company private. Story (The Canadian Press)

 
 
 
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OMERS makes largest Canadian tech investment to date with $100-million financing in Toronto’s TouchBistro: Pension giant Ontario Municipal Employees Retirement System has made its largest investment in a Canadian early-stage technology company, anchoring a $158-million venture financing by Toronto restaurant-software firm TouchBistro Inc. Story (Sean Silcoff)

 
Trulioo Information Services raises $70-million from global banking giants: A Vancouver company that helps corporations verify the identities of customers over the internet has raised $70-million from some of the world’s largest financial institutions. Story (Sean Silcoff)

 
After Dream Global sale to Blackstone, its holding company plans a pivot: The sale of Dream Global Real Estate Investment Trust is enriching Michael Cooper’s holding company, helping the real estate titan pivot toward private capital in a new era for the industry. Story (Rachelle Younglai and Tim Kiladze)

 
Blackstone to pay $3.3-billion in cash for Canada’s Dream Global REIT: Private equity giant Blackstone Group Inc. is buying Dream Global Real Estate Investment Trust, a Canadian company founded by real estate magnate Michael Cooper that specializes in European properties. Story (Tim Kiladze and Rachelle Younglai)

 
FINANCIAL SERVICES NEWS

 
Bank of Canada appoints Toni Gravelle as one of its deputy governors: The Bank of Canada has appointed long-time insider Toni Gravelle as one of its deputy governors, filling the vacancy created over the summer by the retirement of Lynn Patterson. Story (David Parkinson)

 
OSFI conducts risk assessments on banks to crack down on misconduct: Canada’s banking regulator is changing how it assesses risks in the country’s financial institutions. Story (Rita Trichur)

 
Canada Revenue Agency now auditing Quadriga’s corporate tax returns, bankruptcy trustee says: The Canada Revenue Agency is examining the corporate tax returns filed by QuadrigaCX, according to the trustee overseeing the bankruptcy of what was once Canada’s largest cryptocurrency exchange. Story (Alexandra Posadzki)

 
IN CASE YOU MISSED IT

 
Federal minister intervened in decision regarding performance pay for Canada Infrastructure Bank CEO: Infrastructure Minister François-Philippe Champagne intervened in a decision by the Canada Infrastructure Bank’s independent board regarding the performance pay of the bank’s CEO, according to documents obtained by The Globe and Mail. Story (Bill Curry)

 
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About this newsletter
The Streetwise newsletter covers financial services, capital markets, mergers, acquisitions, financings and Bay Street moves. It is sent Monday to Friday.

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