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October 10, 2018

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Recent deals

News

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Caisse partners with Al Gore’s Generation Investment for private-equity deals
The Caisse de dépôt et placement du Québec struck a US$3-billion alliance with a money manager co-founded by former US vice-president Al Gore, creating a partnership that aims to make investments that can be held as long as 15 years.

 

Toronto’s GFL Environmental to buy US firm Waste Industries in $3.65-billion deal
Toronto-based GFL Environmental Inc. has signed a deal to buy Waste Industries in an agreement that values the US company at about $3.65-billion.

 
Fasken

Parkland Fuel to buy 75 percent in fuel marketer SOL Investments for $1.57 billion
Parkland Fuel Corp., a Canada-based marketer of petroleum products, said on Wednesday it would buy a 75 percent stake in privately held SOL Investments Ltd. and its units for $1.57 billion.

Exclusive: Large private equity consortium forms for Arconic bid - sources
Blackstone Group LP, Carlyle Group LP, Onex Corp. and Canada Pension Plan Investment Board have joined forces in a bid to acquire aluminum products maker Arconic Inc., according to people familiar with the matter.

Precision Drilling trumps Ensign bid for peer Trinidad
North American drilling contractor Precision Drilling Corp. on Friday said it would buy Trinidad Drilling Ltd. in a deal valued at $1.03 billion, trumping a hostile bid from rival Ensign Energy Services.

Investment banks reap rewards with $2.8-billion in cannabis equity deals
Canada’s burgeoning cannabis sector is helping to fill the gap created by a slowdown in capital raising by energy and mining companies.

 
Lavery Lawyers

In recent years, Montreal has enjoyed a certain level of success in the field of AI. Some people now talk about Montreal turning into a real AI hub. A prerequisite for the creation of a real international hub is promoting and sustaining a strong startup community and it will happen by broadening VC funds investment boundaries.

Sponsored by Lavery

 
Thomson Reuters

Barrick Gold Corp. to acquire Randgold Resources Ltd. for US$5,466.82 million
Barrick Gold Corp of Canada agreed to merge with Randgold Resources Ltd, a St Helier- based gold ore mine operator, for a total GBP 4.636 bil (US$6.062 bil), in a stock swap transaction, via a scheme of arrangement.

Canadian firms at risk for US taxes
Canadian companies selling into the United States — even those with no physical presence in a particular state — may now be required to collect and remit local sales taxes.

 
Lexpert Infrastructure

Calgary firm accepting crypto-currency for legal services
A Calgary law firm that does work in the fintech and crypto-currency sector has begun accepting payment for legal services in Bitcoin.

Closing date not essential to enforce real estate deal
The Ontario Superior Court of Justice says a purchase agreement of 48 Ontario residential lots is enforceable, despite the seller’s claim that the unmeetable closing date invalidated the agreement.

First Nations want more control over legalization of cannabis
Indigenous leaders say they have not been properly consulted on regulatory changes resulting from the legalization of recreational cannabis.

In Focus
Evolving boutique firms zero in on practice areas and industry sectors to attract clients.

Announced Deal Spotlight

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Empire Co. to acquire Farm Boy in $800M deal
Canadian food retailer Empire Co. Ltd. said it would acquire privately held grocer Farm Boy Inc. for an enterprise value of $800 million (US$618 million) to increase its presence in Ontario...

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Transaction Vitals
Announced: 9/24/2018 | Technique: n.a. | Attitude: friendly | Domestic acquirer | Sought: 100% | Deal value: $800 million

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Lexpert.ca

Lead In-House Counsel
Douglas Nathanson
Senior Vice President, General Counsel and Corporate Secretary
Empire Co. Ltd. and Sobeys Inc.

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Lead External Counsel
Deanne MacLeod
Stewart McKelvey
(for Empire Co. Ltd.)

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Lead External Counsel
Paul Collins

Stikeman Elliott LLP
(for Empire Co. Ltd.)

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Lead External Counsel
Lawson Hunter

Stikeman Elliott LLP
(for Empire Co. Ltd.)

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Lead External Counsel
Michael Laskey
Stikeman Elliott LLP
(for Empire Co. Ltd.)

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Lead External Counsel
Adam Givertz
Paul, Weiss, Rifkind, Wharton & Garrison LLP
(for Empire Co. Ltd.)

Closed Transactions

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Bayer AG divests $9B agriculture business to BASF
Bayer AG, a global enterprise with core competencies in the Life Science fields of health care and agriculture, completed one of the largest antitrust enforcement divestitures in history by selling their agricultural businesses and assets for US$9 billion to German chemical company BASF SE...

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Transaction Vitals
Announced: 10/13/2017 | Closed: 8/1/2018 and 8/16/2018 | Technique: divestiture | Attitude: friendly | German acquirer | Sought: 100% | Value: US$9 billion

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Lead External Counsel
Richard Scott
Dentons Canada LLP
(for Bayer, local corporate matters in Canada and worldwide)

Full list of legal advisors

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Lead External Counsel
Susan Hutton
Stikeman Elliott LLP
(for Bayer, competition and foreign investment review)
Full list of legal advisors

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Lead External Counsel
Anthony Baldanza
Fasken Martineau DuMoulin LLP
(for BASF in Canada, merger control)
Full list of legal advisors


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BWX Technologies, Inc. completes acquisition of Nordion (Canada) Inc.’s medical isotope business
On July 30, 2018, BWX Technologies, Inc., a leading supplier of nuclear components and services, completed the acquisition of the medical isotope business of Nordion (Canada) Inc. from private-equity owned Sotera Health LLC…

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Transaction Vitals
Closed: 7/30/2018 | Technique: n.a. | Attitude: friendly | US acquirer | Sought: 100% | Value: n.a.

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Lead External Counsel
John Leopold
Stikeman Elliott LLP
(for BWX Technologies)
Full list of legal advisors

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Lead External Counsel
Scott Conover
Fasken Martineau DuMoulin LLP
(for Nordion and Sotera Health)
Full list of legal advisors


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CST Canada Coal Ltd. acquires coal assets of Grande Cache Coal LP and Grande Cache Coal Corp.
Sonicfield Global Ltd., an indirect wholly owned subsidiary of CST Group Ltd., and Deloitte Restructuring Inc., entered into an asset purchase and sale agreement, pursuant to which Sonicfield agreed to purchase certain coal assets of Grande Cache Coal from the Receiver…

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Transaction Vitals
Announced: 1/22/2018 | Closed: 7/18/2018 | Technique: divestiture | Attitude: friendly | Hong Kong acquirer | Sought: 100% | Value: US$433.9 million

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Lead External Counsel
Kristos Iatridis
Bennett Jones LLP
(for CST Group Ltd., Sonicfield and CST Canada)
Full list of legal advisors

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Lead External Counsel
Sean Collins
McCarthy Tétrault LLP
(for the Receiver)
Full list of legal advisors

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Lead External Counsel
Andrew Kolody
Blake, Cassels & Graydon LLP
(for China Minsheng Banking Corp., Ltd.)
Full list of legal advisors

 
Rising Stars
 
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Canopy Growth establishes BC Tweed
Canopy Growth Corp. entered into a definitive joint venture agreement to form a new company, BC Tweed Joint Venture Inc. together with a large-scale greenhouse operator to develop 1.3 million square feet of greenhouse growing capacity in British Columbia...

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Transaction Vitals
Announced: 5/14/2018 | Closed: 7/5/2018 | Technique: cash-and-share deal | Attitude: friendly | Domestic acquirer | Sought: 33% | Value: $374 million

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Lead External Counsel
John Vettese
Cassels Brock & Blackwell LLP
(for Canopy Growth and BC Tweed)
Full list of legal advisors

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Lead External Counsel
Benjamin Slager
Mogan Daniels Slager LLP
(for the Partner)
Full list of legal advisors

 
Lexpert Course
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