+ Calgary City Council approved 3 new bike lanes downtown; 8th Ave., 12th Ave., and 5th St.
+ Aecon and Dufferin Construction Company selected to build York Viva Bus Rapid Transit facility along Yonge Street in Richmond Hill and Newmarket, Ontario; project is $261 million
+ La Caisse de dépôt et placement du Québec today announced a CDN$42 million investment in the Parc des Moulins wind energy project operated by Invenergy Wind LLC
+ Alter NRG received IAIR Corporate award for Best Company for Leadership in Clean Technology. AIR awards recognize excellence in global economy and sustainability
+ Alterra Power Corp. & Fiera Axium completed partnership deal for JimmieCreek hydroelectric project. Alterra, 51%; Fiera Axium Infrastructure Canada II LP 49%. Jimmie Creek project is 62 MW clean power capacity, 100% sold to BC Hydro for 40 years beginning in August 2016
+ Affinity Partnerships, a JV to build Teck Acute Care Centre at the BC Children's and BC Women's Hospital + Health Centre; the P3 project going ahead. BC’s Provincial Health Services Authority signed a deal to construct and operate the 640,000 sq. ft.LEED Gold facility. Ledcor Developments will invest 30% or $6.6 million of the $21.8 million equity into the project, with Balfour Beatty investing the remaining equity
+ Westaim Corporation closed $150 million equity financing
+ Yangarra Resources Ltd. is on the market to raise $25 million in equity
INTERESTING REAL ESTATE NEWS OTHER PLACES
+ Harvard Developments Inc. & Greystone Managed Investments Inc. partnering to acquire 201 Portage Avenue in Winnipeg; 510,000 sq. ft. of A class space, AsperTower is tallest building in Winnipeg
+ Starlight U.S. Multi-Family Core Fund agreed to acquire a 50% interest in Villages of Sunset Ridge, 257 unit, garden style, Class "A", apartment complex in suburban Houston
QUOTES
“Comfort and prosperity have never enriched the world as much as adversity has.” – Billy Graham
“No one that encounters prosperity does not also encounter danger.” - Heraclitus
KUDOS
+ Mac Van Wielingen given Distinguished Business Leader Award, 2014 by The HaskayneSchool of Business
TODAY'S HEADLINES
Jim Prentice enters PC Leadership race | | SINOPEC buys into Pacific NW LNG project | AIMCo replacing CEO | Brian Plunkett interview | recent appointments + new financings >>>>
NEWS TODAY April 29 / 2014
+ BG Group conducting an asset valuation review after abrupt resignation of its CEO
+ GFL Environmental Inc. agreed to acquire Contrans Group Inc. and its subsidiaries
+ Harvard Developments Inc. & Greystone Managed Investments Inc. partnering to acquire 201 Portage Avenue in Winnipeg; 510,000 sq. ft. of A class space, AsperTower is tallest building in Winnipeg
+ Jim Prentice entered the PC party leadership race to become the next leader and Premier of Alberta; so far the only other declared candidate is MLA Ken Hughes; some have speculated that with Prentice in the race other candidates would withdraw but sources close to the PC caucus say MLA’s are concerned Prentice might be an Alison Redford with a necktie … so, political watching in Alberta will get interesting again for a while
+ National Bank Securities rebranded itself as National Bank Investments
+ Petcetera entering bankruptcy, closed 6 of 18 stores; 1 in Calgary
+ Petroamerica Oil Corp. agreed to acquired Suroco Energy Inc.
+ SINOPEC buys into Progress Energy & Pacific Northwest LNG; will take 15% of output for 20 yrs.
+ U.S. Federal Reserve expected to further reduce its monthly bond purchase next month by a further US$10 billion a month to US$45 billion
+ U.S. government issued more sanction orders on Russia and affiliates of Vladimir Putin as the Ukraine stand-off continues to unsettle European markets; Canada followed with sanctions on two small Russian banks and nine individuals
PAST WEEK NEWS REVIEW Apr. 22 - 28
+ Aecon and Dufferin Construction Company selected to build York Viva Bus Rapid Transit facility along Yonge Street in Richmond Hill and Newmarket, Ontario; project is $261 million
+ Affinity Partnerships, a JV to build Teck Acute Care Centre at the BC Children's and BC Women's Hospital & Health Centre; the P3 project going ahead. BC’s Provincial Health Services Authority signed a deal to construct and operate the 640,000 sq. ft.LEED Gold facility. Ledcor Developments will invest 30% or $6.6 million of the $21.8 million equity into the project, with Balfour Beatty investing the remaining equity
+ AIMCo (Alberta Investment Management Corp.) is on the hunt for a new CEO to replace Leo de Bever who will stay on until a successor is recruited
+ Alter NRG received IAIR Corporate award for Best Company for Leadership in Clean Technology. AIR awards recognize excellence in global economy and sustainability
+ Alterra Power Corp. & Fiera Axium completed partnership deal for JimmieCreek hydroelectric project. Alterra, 51%; Fiera Axium Infrastructure Canada II LP 49%. Jimmie Creek project is 62 MW clean power capacity, 100% sold to BC Hydro for 40 years beginning in August 2016
+ Antrim Energy Inc. closed the sale of its UK subsidiary
+ BC Land Sales drew $10.38 million, most of it on Montney parcels
+ BG Group signed a Memorandum of Understanding with CNOOC with respect to its planed Prince Rupert LNG plant JV with Spectra Energy Corp.
+ BP plc agreed to sell 4 north-slope Alaska assets to Hilcorp Energy; price not disclosed
+ Century Energy Ltd. agreed to sell SE Saskatchewan assets for $475,000
+ CIBC negotiating to acquired U.S. money manager Russell Investments; US$3 billion deal
+ Crescent Point Energy Corp. agree to acquire CanEra Energy Corp., for $1.1 billion
+ Enbridge Inc. got federal government approval for its planned new 570,000 bpd pipeline from Edmonton to Hardisty; $844 million budget
+ Exxon Mobil Corporation announced its Baton Rouge refinery is back on line after two-month planned maintenance shutdown
+ Ferus Natural Gas Fuels Inc. closed its acquisition of 50% interest in Elmworth field from Encana Corporation
+ Gear Energy Ltd. acquired $85 million in producing heavy oil assets (2,000 bpd)
+ General Electric in pursuit of US$13 billion takeover of Alstom’s energy business; Siemens also in that hunt . . .
+ Hess Corp. agreed to sell its Thailand assets to PTT Exploration and Production Pcl for US$ 1 billion
+ La Caisse de dépôt et placement du Québec today announced a CDN$42 million investment in the Parc des Moulins wind energy project operated by Invenergy Wind LLC
+ Magnum Hunter Resources Corporation agreed to sell 100% of its Canadian subsidiary for $75 million
+ NexGen Energy Ltd. adopted a shareholder rights plan
+ OfficeMax Grand & Toy closing 19 retail stores in favour of e-commerce and direct sales
+ PetroChina announced it will increase its 2014 CapEx Budget for shale gas to US$1.6 billion
+ Precision Drilling Corporation announced an increase in its 2014 CapEx Budget to $833 million
+ Redhill Resources Corp. sold leases to High North Resources Ltd. for $2.16 million
+ Revera Inc. closed its investment to acquire 76% of Sunrise Senior Living Management Company; Heath Care REIT taking the remainder
+ Santonia Energy Inc. got shareholder and court approval for its deal to be acquired by Tourmaline Oil Corp.
+ Stantec Inc. agreed to acquire JBR Environmental Consultants of Salt Lake City; 140 employees in 12 locations added – price not disclosed
+ Starlight U.S. Multi-Family Core Fund agreed to acquire a 50% interest in Villages of Sunset Ridge, 257 unit, garden style, Class "A", apartment complex in suburban Houston
+ Suncor Energy Inc. began a 4-week planned maintenance shutdown at its Montreal refinery
+ Tourmaline Oil Corp. announced an increase in its 2014 CapEx Budget to $1.1 billion
+ Willams Partners LP planning US$300 million natural gas pipeline expansion to supply natural gas to the Sabine LNG export facility under construction in Louisiana
+ 3 Eau Claire Developments Inc. filed for bankruptcy protection; its 2-tower development in Eau Claire to house Shaw Communications in doubt under $38 million in debt claims
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