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Former Canadian Prime Minister Stephen Harper has been appointed to lead the board of Alberta's public pension fund manager, Alberta Investment Management Corp. This decision comes after the firing of the CEO and all directors of the organization. Harper's extensive governance experience and track record in fiscal stewardship were cited as reasons for his selection. The move is part of a series of reforms aimed at improving the organization's performance and returns, as Alberta seeks to increase its Heritage Fund for future generations. [Extracted from the article]

Former Canadian Prime Minister Stephen Harper has been appointed to lead the board of Alberta's public pension fund manager, Alberta Investment Management Corp. This decision comes after the government fired the CEO and all directors of the organization. Harper's appointment is seen as an opportunity to reshape the management of C$169 billion in public pension and government funds. The move is part of a series of reforms aimed at improving investment returns and reducing expenses within the organization. [Extracted from the article]

Dye & Durham Ltd., a Canadian legal software company, has paused its sale process due to pushback from major shareholders who were not interested in the potential bids being discussed. The company received four conditional takeover offers in the range of low-to-mid C$20 per share, but shareholders Mawer Investment Management and EdgePoint Wealth Management preferred a new board and management team. The strategic review, which may include a sale, merger, or other transactions, is on hold until after a shareholder meeting scheduled for Dec. 17. Dye & Durham's shares rose to C$18.55 as of 12:26 p.m. in Toronto, reflecting a 43% increase over the past year. [Extracted from the article]

Alberta Premier Danielle Smith plans to appoint new board members for the provincial pension manager, Alberta Investment Management Corp., to address concerns about "middling returns." The Finance Minister fired the entire Aimco board and CEO due to rising expenses, with operating costs increasing by 45% in three years. Smith aims to model Aimco after Norway's wealth fund manager and is considering a new approach to managing the Heritage fund to grow it to over C$250 billion by 2050. [Extracted from the article]

Boliden AB is in advanced talks to acquire Lundin Mining Corp.'s European mines, Zinkgruvan in Sweden and Neves-Corvo in Portugal. The potential deal would solidify Boliden's position as a major zinc producer in Europe, supporting its smelting operations in Scandinavia. Lundin is selling these assets to focus on expanding its copper projects in South America, including a joint venture with BHP Group Ltd. in Argentina. Both companies have declined to comment on the ongoing negotiations. [Extracted from the article]

Boliden AB is in advanced talks to acquire Lundin Mining Corp.'s European mines, Zinkgruvan in Sweden and Neves-Corvo in Portugal. The potential deal would solidify Boliden's position as a major zinc producer in Europe, securing a long-term supply for its smelting operations in Scandinavia. Lundin is selling these assets to focus on expanding its copper projects in South America, including a joint venture with BHP Group Ltd. to develop a copper project in Argentina. [Extracted from the article]

Alberta has appointed Ray Gilmour as the interim CEO of its public pension fund manager, Aimco, following the dismissal of the entire board and CEO. The government aims to reduce operating costs and increase the size of Alberta's Heritage Savings Trust Fund. Aimco manages about C$169 billion and is undergoing a major transformation to improve performance and restore trust. [Extracted from the article]

Corus Entertainment Inc., a Canadian television company, is considering a potential sale of its business with the help of Jefferies Financial Group. The company has significant debt issues, leading to concerns about its ability to continue operating. Corus has already made changes to its credit line and is in discussions with bondholders and financial advisers. The company's stock value has plummeted, and there are fears that current shareholders may not recover their investments. Quebecor Inc. reportedly made an offer to buy Corus earlier in the year. [Extracted from the article]

Canadian generic drug manufacturer Apotex Inc. is considering an initial public offering with the help of advisers RBC Capital Markets, Jefferies Financial Group, and TD Securities. The company, founded in 1974 by Barry Sherman, who tragically passed away in 2017, was sold to SK Capital Partners in 2023. Apotex recently acquired Montreal-based Searchlight Pharma Inc., expanding its focus on specialty healthcare products. The potential IPO is still in the planning stages, with no final decisions made on timing or size. [Extracted from the article]

Corus Entertainment Inc., a Canadian television company, is considering a potential sale of its business with the assistance of Jefferies Financial Group. The company's debt issues have raised concerns about its ability to continue operating, leading to negotiations with lenders to amend its credit facility. Corus, controlled by the Shaw family of Alberta, has seen a significant decline in its stock value, prompting discussions with bondholders and financial advisers. [Extracted from the article]

Police in Toronto are investigating gunfire at the offices of GFL Environmental Inc., with evidence of shots fired and damage found at the scene. No injuries were reported, and the company declined to comment due to the ongoing police investigation. This incident follows previous reports of gunfire targeting GFL's operations and personnel, as well as arson at related locations. GFL Environmental has grown rapidly in recent years through acquisitions but has faced financial challenges, leading to the sale of less profitable businesses. [Extracted from the article]

Gateway Casinos & Entertainment Ltd., one of Canada's major gaming companies, is seeking up to C$1.8 billion in private debt to refinance loans and provide dividends to owners. The company, majority owned by Catalyst Capital Group Inc., is working with Morgan Stanley on this initiative. This move comes amidst a competitive private credit market, with other companies like Great Canadian Gaming Corp. also seeking financing options. [Extracted from the article]

Gateway Casinos & Entertainment Ltd., one of Canada's major gaming companies, is seeking $1.3 billion in private debt to refinance loans and pay dividends to owners. The company, majority owned by Catalyst Capital Group Inc., is working with Morgan Stanley on this initiative. The private credit market is competitive, with direct lenders seeking opportunities beyond traditional financing, as seen in a recent deal by Gateway's peer, Great Canadian Gaming Corp. [Extracted from the article]

Engine Capital LP, a shareholder of Dye & Durham Ltd., is advocating for new board and management leadership rather than a sale of the company. Dye & Durham, a provider of software and services to the legal and banking sectors, is undergoing a strategic review that may involve a sale, merger, or other transactions. Analysts suggest that in a takeover scenario, the company's stock could be valued higher than its current price due to its earnings potential and recurring revenue. Dye & Durham has faced challenges with high leverage following an acquisition spree post its 2020 IPO. [Extracted from the article]

Dye & Durham Ltd., a Canadian legal software company, is considering a sale after receiving takeover interest amid pressure from activist investors. The Toronto-based company is working with advisers to explore strategic options, including a potential sale or merger. Dye & Durham's shares surged after news of the company's review process, reaching the highest intraday level in over a year. The company has faced challenges due to high leverage and is reassessing its growth strategy following an acquisition spree post its 2020 IPO. [Extracted from the article]

Dye & Durham Ltd., a Canadian legal software company, is considering a sale following interest from potential buyers, including US-based private equity firms and strategic companies. The company's shares rose significantly after news of the potential sale, reaching their highest level in over a year. Dye & Durham, known for providing software and services to the legal and banking sectors, has been reevaluating its growth strategy due to concerns about high debt levels. The company's revenue for the fiscal year ended June 30 was C$457.7 million, and it recently agreed to give a board seat to one of its major shareholders to address activist investor pressure. [Extracted from the article]

Dye & Durham Ltd., a Canadian legal software company, is considering a sale after receiving takeover interest from US-based private equity firms and strategic companies. The company, which provides software and services to the legal and banking sectors, has accumulated significant debt and is reevaluating its growth strategy. Despite its market value dropping from C$50 to C$16.90, Dye & Durham generated C$457.7 million in revenue in the fiscal year ended June 30. The company has also faced pressure from activist investors and recently agreed to give a board seat to one of its largest shareholders. [Extracted from the article]

Canadian software firm Dye & Durham Ltd. has agreed to give a board seat to one of its largest shareholders, Blacksheep Fund Management Ltd., in an effort to fend off activist investors. Blacksheep, which owns about 6% of the company, will have the right to name one board member and has agreed to voting support and other customary terms. Dye & Durham has faced concerns about high leverage and has hired Goldman Sachs as its financial adviser and Goodmans LLP and Groia & Co. as its legal team. Another shareholder, Engine Capital Management LP, has taken issue with the company's recent acquisitions and has called for a special meeting to allow investors to vote on the board. [Extracted from the article]

Swedish buyout firm Altor Equity Partners has agreed to purchase a majority stake in CCM Hockey, the maker of Tacks and JetSpeed hockey gear. The deal, expected to close by the end of the year, will see Altor acquire the business from Canada's Birch Hill Equity Partners Management. CCM is valued at C$500 million to C$600 million and will remain headquartered in Montreal. Altor was attracted to CCM for its innovative equipment and plans to focus on women's hockey and expanding into new markets. [Extracted from the article]

Alberta Investment Management Corp (AIMCo), a major Canadian pension manager, has announced changes to its leadership team as Chief Investment Officer Marlene Puffer departs. David Scudellari, the head of international investment, will now oversee private assets and strategic partnerships, including real estate, private credit, infrastructure, and private equity. AIMCo did not provide a reason for Puffer's departure. The fund currently manages around C$169 billion ($125 billion) for various public-sector accounts in Alberta. AIMCo also appointed Justin Lord as senior executive managing director for public markets, responsible for public equities and fixed income. [Extracted from the article]

Barclays Plc has hired Ken Davis, formerly of Citigroup Inc., to lead its Western Canada operation, focusing on the energy and commodities sectors. Davis will be based in Calgary. Barclays has also hired Greg Petit, previously of BMO Capital Markets, as head of infrastructure, power, and utilities banking in Canada, based in Toronto. Both Davis and Petit will report to Ryan Voegeli, who was hired earlier this year to rebuild Barclays' banking team in Canada. Barclays aims to deepen its coverage of the infrastructure and energy transition sectors in North America and strengthen its commitment to Western Canadian clients. [Extracted from the article]

Rogers Communications Inc. is acquiring BCE Inc.'s stake in Maple Leaf Sports & Entertainment Ltd. for C$4.7 billion ($3.5 billion), giving Rogers control of Canada's most valuable sports company. The deal is expected to close in mid-2025, pending league and regulatory approvals. Rogers and BCE currently share media rights for regional Leafs and Raptors games, and that arrangement might continue for the next two decades. The transaction will allow BCE to reduce its debt, which has been a concern for investors. [Extracted from the article]

Rogers Communications Inc. is acquiring BCE Inc.'s 37.5% stake in Maple Leaf Sports & Entertainment Ltd. for C$4.7 billion ($3.5 billion), giving Rogers a majority stake in the sports company that owns the NHL's Toronto Maple Leafs and NBA's Toronto Raptors. The deal, which values the sports company at approximately $9.3 billion, is expected to close in mid-2025 pending league and regulatory approvals. BCE plans to use the proceeds from the sale to reduce its debt levels. This transaction marks the end of an unlikely partnership between Rogers and BCE, who are bitter rivals in the telecommunications industry. [Extracted from the article]

Rogers Communications Inc. is acquiring BCE Inc.'s 37.5% stake in Maple Leaf Sports & Entertainment Ltd. for C$4.7 billion ($3.5 billion), giving them a majority stake in the company. Maple Leaf Sports & Entertainment owns the Toronto Maple Leafs hockey club and the Toronto Raptors. The deal will not affect Rogers' debt leverage and is expected to close in mid-2025. BCE plans to use the proceeds to reduce its debt levels. Bell Media has also secured content rights for the Toronto Maple Leafs and Toronto Raptors on TSN for the next 20 years through a long-term agreement with Rogers. [Extracted from the article]

Rogers Communications Inc. is acquiring BCE Inc.'s 37.5% stake in Maple Leaf Sports & Entertainment Ltd. for C$4.7 billion ($3.5 billion), according to Sportico. This purchase will give Rogers a majority stake in the Canadian sports company, which includes assets such as the Toronto Maple Leafs hockey club and the Toronto Raptors basketball team. Prior to this deal, Rogers and BCE evenly split a 75% stake, while the remaining shares are owned by businessman Larry Tanenbaum and the Ontario Municipal Employees Retirement System. The Toronto Raptors are valued at approximately $3.1 billion. [Extracted from the article]

Smaller investors are entering the secondary market for private equity holdings, leading to more stable pricing, according to Alberta Investment Management Corp. (Aimco). Aimco, which manages $125 billion for public-sector accounts, has seen a more balanced demand and supply in the secondary market, resulting in stabilized discounts. Aimco is also expanding its presence in private credit, particularly in larger-cap US deals. While real estate remains challenging, Aimco sees opportunities in multifamily residential properties, grocery-anchored retail properties, and data centers. The pension fund is also making adjustments to its Canadian office exposure. [Extracted from the article]

Noel Heavey, the co-head of US fixed income sales & trading at the National Bank of Canada, has left the firm. Heavey had been with the bank since 2010. The bank has not commented on his departure, and Heavey has not responded to requests for comment. Earlier this year, the bank opened an office in Paris to serve supranational and government-backed issuers. [Extracted from the article]

The Canada Pension Plan Investment Board is looking to sell a portfolio of distressed Spanish loans in an effort to reduce its exposure to the country. The portfolio consists of unsecured, non-performing loans with a face value of around €300 million. The loans were obtained as part of a larger portfolio and will likely be sold at a discount. The Canadian pension fund has previously acquired debt assets from Spanish banks and is working to increase its private credit holdings. The fund earned an 8% return in the last fiscal year. [Extracted from the article]

Tourmaline Oil Corp., Canada's largest gas driller, has agreed to acquire Crew Energy Inc. for C$1.3 billion ($947 million) in an all-stock deal. The acquisition will help Tourmaline increase its production in anticipation of rising gas demand for power and exports. The deal will add approximately 29,000 barrels of oil equivalent per day to Tourmaline's output and is expected to boost the company's anticipated 2025 free cash flow by over C$200 million. The acquisition is part of Tourmaline's strategy to expand its position in the Montney shale gas formation and increase production to 750,000 barrels of oil equivalent per day over the next five years. [Extracted from the article]

Tourmaline Oil Corp., Canada's largest gas driller, has agreed to acquire Crew Energy Inc. for C$1.3 billion ($947 million) in an all-stock deal. The transaction, which includes the assumption of C$240 million in debt, values Crew Energy at approximately C$6.69 per share, representing a 72% premium over its closing price on Friday. This acquisition is part of Tourmaline's ongoing consolidation efforts in the oil and gas industry, following its previous purchase of Bonavista Energy Corp. for about C$1.5 billion. Additionally, Tourmaline's board has approved an increase in the company's quarterly dividend. [Extracted from the article]

Algonquin Power & Utilities Corp. is selling its renewable energy business to LS Power for up to $2.5 billion following pressure from activist investor Starboard Value LP. Starboard has been advocating for the sale of the renewables business for over a year, arguing that it would reduce leverage and increase valuation. Other utilities, such as American Electric Power and Duke Energy, have also divested their renewable assets to focus on their regulated businesses. Algonquin's CEO stated that the sale is part of their plan to become a "pure-play regulated utility." The transaction is expected to close in late 2024 or early 2025. [Extracted from the article]

Algonquin Power & Utilities Corp., a Canadian utility company, is selling its renewable energy business to LS Power for up to $2.5 billion. The deal includes $2.3 billion in cash at closing and up to $220 million through an earn-out agreement. The sale comes after activist investor Starboard Value expressed concerns about Algonquin's management and urged the company to sell its renewable assets to reduce debt. The transaction is expected to close in late 2024 or early 2025. Algonquin's shares fell about 5% before regular trading began. [Extracted from the article]

Barclays Plc has hired Stephen Stewart, a veteran banker, to lead mergers and acquisitions in Canada as part of its efforts to strengthen its business in the country. Stewart, who previously worked at Toronto-Dominion Bank for over 15 years, brings extensive experience in high-profile deals. He will be based in Toronto and report to Barclays' new head of investment banking for Canada, Ryan Voegeli, and Americas M&A chief Dan Grabos. This appointment comes as Barclays aims to rebuild its staff in Canada following the departure of several key personnel to Jefferies Financial Group Inc. last year. [Extracted from the article]

Chorus Aviation Inc., a Canadian aerospace firm, has reached an agreement to sell its regional-aircraft leasing business to HPS Investment Partners for approximately C$1.9 billion ($1.4 billion), including debt. Chorus had previously acquired Falko Regional Aircraft Ltd. in 2022, but the strategy did not succeed due to rising interest rates. The sale will allow Chorus to improve its balance sheet and reduce its leverage ratio. The deal has the support of Chorus' largest shareholders, Brookfield Asset Management and Air Canada, and requires shareholder approval. [Extracted from the article]

Chorus Aviation Inc., a Canadian aerospace firm, has reached an agreement to sell its regional-aircraft leasing business to HPS Investment Partners for approximately C$1.9 billion ($1.4 billion), including debt. Chorus had previously acquired Falko Regional Aircraft Ltd. in 2022, but rising interest rates made it challenging to finance and expand the division. The sale will allow Chorus to clean up its balance sheet and reduce its leverage ratio, while HPS Investment Partners continues to establish itself as a major player in the private credit market. The deal is supported by Chorus' largest shareholders, Brookfield Asset Management and Air Canada. [Extracted from the article]

Chorus Aviation Inc., a Canadian aerospace firm, has reached an agreement to sell its regional-aircraft leasing business to HPS Investment Partners for approximately C$1.9 billion ($1.4 billion), including debt. Chorus had previously acquired Falko Regional Aircraft Ltd. in 2022, but rising interest rates made it challenging to finance and expand the division. The sale will allow Chorus to clean up its balance sheet and reduce its leverage ratio, while Brookfield Asset Management and Air Canada, the company's largest shareholders, have agreed to support the deal. HPS Investment Partners is a major player in the private credit market, with assets under management of around $116 billion. [Extracted from the article]

The National Bank of Canada has agreed to acquire Canadian Western Bank for approximately $3.6 billion in stock. This deal will allow National Bank to diversify its earnings away from Quebec and expand its retail footprint in the western provinces of Alberta and British Columbia. The acquisition is subject to approval from the Canadian government and two-thirds of Canadian Western Bank's shareholders. The deal is expected to be completed by the end of next year. [Extracted from the article]

The National Bank of Canada has agreed to acquire Canadian Western Bank for approximately $3.6 billion in stock. This deal will allow National Bank to diversify its earnings away from Quebec and expand its retail footprint in the western provinces of Alberta and British Columbia. The purchase is subject to approval from the Canadian government and two-thirds of Canadian Western Bank's shareholders. The deal is expected to be completed by the end of next year. [Extracted from the article]

The National Bank of Canada has agreed to acquire Canadian Western Bank for approximately $3.6 billion in stock. This deal will allow National Bank to diversify its earnings away from Quebec and expand its presence in Western Canada. The acquisition is subject to approval from CWB shareholders and the Canadian government and is expected to be completed by the end of 2025. National Bank plans to issue $1 billion in new equity, and Quebec's largest pension fund will invest $500 million in National Bank to help finance the deal. [Extracted from the article]

Canadian investment manager Ninepoint Partners LP has announced that it will temporarily suspend cash distributions in three of its private credit funds, affecting approximately $1.5 billion in assets. The decision is aimed at preserving liquidity and balancing the long-term goals of the funds, with cash distributions being redirected into additional units starting from July 1. This move by Ninepoint is in response to a liquidity crunch in the private credit industry, with other lenders also taking measures to preserve cash. The firm assures investors that it is not winding down these funds and will continue to focus on the performance and stability of its current portfolio. [Extracted from the article]

Canadian investment manager Ninepoint Partners LP has announced that it will temporarily suspend cash distributions in three of its private credit funds, affecting approximately $1.5 billion in assets. The decision is aimed at preserving liquidity and balancing the long-term goals of the funds, with cash distributions being redirected into additional units starting from July 1. This move by Ninepoint is in response to a liquidity crunch in the private credit industry, with other lenders also taking measures to preserve cash. The firm assures investors that it is not winding down the funds and will continue to focus on the performance and stability of the current portfolio. [Extracted from the article]

Canadian investment manager Ninepoint Partners LP has announced that it will temporarily suspend cash distributions in three of its private credit funds, affecting approximately $1.5 billion in assets. The firm has decided to redirect future distributions into additional units rather than cash payouts in order to preserve liquidity and balance the long-term goals of the affected funds. This move by Ninepoint is in response to a liquidity crunch in the private credit industry, with other lenders also taking measures to preserve cash. The firm assures investors that it is not winding down these funds and will continue to focus on the performance and stability of its current portfolio. [Extracted from the article]

Canadian investment manager Ninepoint Partners LP has announced that it will temporarily suspend cash distributions in three of its private credit funds, affecting funds with approximately C$2 billion ($1.5 billion) in assets. The decision is aimed at preserving the funds' liquidity, and the firm plans to reassess the situation in the third quarter. Instead of cash distributions, future distributions will be redirected into additional units. Ninepoint Partners assures investors that the funds will not be wound down and that they will continue to have access to the benefits of being invested in private credit. [Extracted from the article]

Canadian investment manager Ninepoint Partners LP has announced that it will temporarily suspend cash distributions in three of its private credit funds, affecting funds with approximately C$2 billion ($1.5 billion) in assets. The decision is aimed at preserving the funds' liquidity, and the firm plans to reassess the situation in the third quarter. Instead of cash distributions, the firm will redirect future distributions into additional units. Ninepoint Partners emphasizes that it is not winding down these funds and that investors will still have access to the benefits of being invested in private credit. [Extracted from the article]

Ontario's pension fund for local-government workers, the Ontario Municipal Employees Retirement System (OMERS), is considering selling a stake in Leeward Renewable Energy, a Dallas-based company. The potential transaction could value Leeward at around $3.5 billion, including debt. Leeward operates and owns a portfolio of 31 solar, wind, and energy storage facilities in the US, with plans to develop more in the future. OMERS acquired Leeward in 2018 and expanded its operations in 2021. Both OMERS and Leeward declined to comment on the matter. [Extracted from the article]