The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure said they will buy a stake of at least 30 percent in Associated British Ports (ABP) for about $2.9 billion, Reuters reported. CPPIB and Hermes will acquire the stake from GS Infrastructure Partners and Infracapital. Borealis Infrastructure, which invested in ABP in 2006, will remain a shareholder.
Amaya Gaming Group Inc has agreed to sell its Cadillac Jack subsidiary that makes slot machines and electronic bingo games for casinos to an affiliate of U.S. private equity firm Apollo Global Management for $476 million, Reuters reported. Montréal-based Amaya, which is pivoting to focus on the fast-growing online gambling market, said the deal is expected to close this year.
Manac Inc, the largest manufacturer of truck trailers in Canada, has begun a strategic review to explore a potential sale or merger, Reuters reported. Two of Québec's largest fund managers, the Fonds de Solidarité FTQ and the Caisse de depot et Placement du Quebec, together own about 30 percent of Manac's shares. The company is also a current portfolio investment of U.S. private equity firm American Industrial Partners.
U.S. private equity firm Carlyle Group has agreed to buy Sterling Resources' Romanian gas fields, days after it raised US$2.5 billion to snap up energy assets around the world, Reuters reported. Sterling, a Calgary-based oil and gas company, will receive US$42.5 million from Carlyle's international energy fund for its entire Romanian operations as it struggles to stay afloat following the recent drop in oil prices.
Wind Mobile has named a new CEO and several new board members, months after the acrimonious exit of its biggest shareholder, Reuters reported. Alek Krstajic replaces Pietro Cordova as the company's top executive. Cordova was appointed by Wind's former majority shareholder, Vimpelcom. Rob MacLellan of Northleaf Capital Partners will also replace Anthony Lacavera as the company's chairman.
Several private equity firms are preparing to make offers to acquire U.S. enterprise software maker Informatica Corp, in what could be this year's largest leveraged buyout, sources told Reuters. Silver Lake Partners has teamed up with Hellman & Friedman ahead of an April deadline for final bids. Other potential bidders include Canada Pension Plan Investment Board's private equity arm, sources said.
Portland Private Equity, a firm led by Canadian billionaire Michael Lee-Chin, expects a big return from its sale of Columbus International, reinforcing Lee-Chin’s argument that there are major PE opportunities in the Caribbean region. Cable & Wireless Communications (C&W) will this month close its US$3.025 billion buy of Columbus, a telecommunications provider based in Barbados.
Mexican bank Grupo Financiero Banorte expects to set up a US$3 billion infrastructure fund in the next few months with a North American partner, Reuters reported. The partner was not disclosed, however, one source said the Caisse de dépôt et placement du Québec and a Mexican institutional investor planned to create a joint fund.
Finnish utility Fortum has agreed to sell its Swedish electricity distribution business to a consortium including Canada's Borealis Infrastructure for about 6.6 billion euros (US$6.9 billion), completing its exit from Nordic power grid assets, Reuters reported. The Borealis-led group included Swedish pension funds Forsta AP-Fonden, Tredje AP-Fonden and Folksam.
Aequitas Innovations has completed a new round of capital raising ahead of the launch of its new stock exchange, which is set to begin operations this month, Reuters reported. Its new shareholders include British Columbia Investment Management Corp, fund managers Davis Rea and Invesco Canada, and U.S. private equity firm Vernon & Park Capital. The Aequitas model includes plans for a private marketplace to fund early-stage companies.