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Maple Group Extends Offer to Buy TMX Group

Maple Group Acquisition Corporation is comprised of thirteen Canadian financial institutions and pension funds. The collection of investors has extended their offer to acquire a minimum of 70% and a maximum of 80% of TMX Group shares in concert of an integrated deal. The total valued transaction at 100% shares is $3.8 billion. The offer is being extended till September 30, 2011. Maple Group Acquisition Corporation is confident it will pass Canadian regulatory hurdles.

If the deal goes through, Maple Group Acquisition Corporation wants to maintain the exchange’s presence in Canada and create operational efficiencies through technology.

Maple Group is the last man standing in terms of buying out TMX, as the London Stock Exchange did not garner enough TMX shareholder approval.  TMX Group has performed well recently. In the first calendar quarter of 2011, it had a profit margin of 36.2% based in USD. NYSE Euronext’s profit margin in the same time period was 14.07%.

  • About Maple Group Acquisition Corporation
  • Alberta Investment Management Corporation
  • Caisse de dépôt et placement du Québec
  • Canada Pension Plan Investment Board
  • CIBC World Markets Inc.
  • Desjardins Financial Group
  • Dundee Capital Markets Inc.
  • Fonds de solidarité des travailleurs du Québec (F.T.Q.)
  • GMP Capital Inc.
  • National Bank Financial Inc.
  • Ontario Teachers’ Pension Plan
  • Scotia Capital Inc.
  • TD Securities Inc.
  • The Manufacturers Life Insurance Company

SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

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bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

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