“I think the most privacy I had was when the game was going on.” – Roger Maris
“You already have zero privacy – get over it.” – Scott McNealy
NEWS FLASH June 12 / 2013
Sobeys Inc. to Acquire Canada Safeway - Empire Company to Own 100% of the Combined Company: Empire Company Limited and its wholly-owned subsidiary, Sobeys Inc. ("Sobeys"), announced Sobeys reached a definitive agreement with Safeway Inc. to acquire substantially all assets of Canada Safeway Limited for a cash purchase price of Cdn. $5.8 billion, subject to adjustments. Assets to be purchased by Sobeys include the following:
213 full service grocery stores under the Safeway banner in Western Canada;
199 in-store pharmacies with market leading productivity
62 co-located fuel stations
10 liquor stores
4 primary distribution centres and related wholesale business; and
12 manufacturing facilities
Crombie REIT has a right of first offer in respect of any real estate sales undertaken by Sobeys. Closing of the transaction is subject to customary conditions, including receipt of relevant regulatory approvals and is expected to occur in the fall of 2013. Scotiabank and Morgan Stanley acted as advisors to Empire on the acquisition.
NEWS TODAY June 11 / 2013
+ Carlyle Group sub. Booz Allen Hamilton under spotlight amid U.S. security leads about PRISM program of data gathering from phone call and e-traffic; it appears Defence Minister MacKay have committed Canada via Communications Security Establishment to the same program of data gathering - with or without the property legal authority
+ City of Calgary facing sewer capacity crunch; growth on hold in NW, requires $50 million upgrade not scheduled till 2017 [wasn’t it just last week the Mayor and Council were sweating about how to spend a spare $52 million? Seems they overlooked something pretty big that will impact everyone holding undeveloped land in the NW . . . stay tuned, this issue will be in the news for a while
+ SURVEY QUESTION FOR READERS[click here to reply]: is Calgary still a ‘landlord’s market’, has it shifted to a mid-point, a more balanced market or has the pendulum swung all the way back in favour of tenants?
+ OMERS and AIMCO in JV to acquired Vue Entertainment, a European cinema firm for $1.48 billion
+ report on opposite of working from home – homing from workon the rise
+ Standard & Poors kept the U.S. government credit rating at AA+, but changed their outlook from ‘negative’ to ‘stable’ which has buoyed the outlook of spin-doctors
+ Travelers Companies Inc. agreed to acquire Dominion of Canada General Insurance Co. for $1.125 billion
+ University of Calgary’s West Campus Development Trust has announced plans to develop 6,500 multi-family units, 2 million sq. ft. of office space, 200,000 sq. ft. of retail space on its 64 hectare site over a 15-20 year program; land will be taken down by developers in a public process in late 2014/early 2015
+ U.S. Department of Energy estimates world shale oil resources would supply the world for 10 years; 345 billion barrels in 42 countries
NEWS REVIEW June 4 - 10
+ Argosy Energy Inc. entered a bankruptcy proceeding
+ CAPREIT closed acquisition of six property deal involving 3 mid-rise buildings (114 suites) and 3 commercial building for $25.3 million
+ Cardel Homes acquired Shawnee Closed Golf Course from Geo- Energy; redevelopment plan involves construction of 1,700 new homes, commencing fall/2013
+ Costco Wholesale planning 25 more stores in Canada
+ Crew Energy Inc. acquiring $36 million in additional Montney assets from Terra Energy Corp.
+ Devon Energy Corp. to sell-off controlling interesting in its mid-stream business through creation of a limited partnership
+ Enbridge Inc. running a second open-season for its Southern Access Extension pipeline (165 mile, 24 inch diameter to care crude oil from Pontiac, Illinois to Patoka, Illinois
+ Entrec Corp. agreed to acquire GT’s Crane and Transportation Services Inc. for $57 million
+ Epsilon Energy Ltd. took out is 50% Saskatchewan JV partner for $2.3 million
+ GMP Capital Inc. renamed itself … now known as CQI Management L.P.
+ Homburg Investment Inc. got court approval of its reorganization plan
+ Husky Energy Inc. got regulatory approval for amendments to its South Wild Rose field
+ new exchange formed – Intellectual Property Exchange International (based in Chicago) will trade in Patent Rights
+ PanTerra Resource Corp. agreed to sell 60% interest in its Carrot Creek Cardium assets for $3.4 million
+ Penn West Petroleum Ltd. restructuring, laying off 210 employees
+ SAC Capital Advisors continued troubles; withdrawal notices from investors compound troubles of insider trading investigations while plea-bargain negotiations continue
+ Secure Energy Services Inc. and Marquis Alliance Energy Group Inc. agreed to acquire Target Rentals Ltd. for $40 million
+ Telus Corp.’s proposed takeover of Moblicity rejected by Ottawa – issue is transfer of wireless spectrum licenses; Mobilicity terminated the transaction, looking at recapitalization
+ The Bow celebrated its grand opening; $1.7 billion project is 58 floors
+ Enbridge owned Montana-Alberta Tie Line to be operational by mid-summer; $300 million project will initially receive wind-generated excess power from Montana
+ U.S.GreenBuilding Council seeking to certify buildings in 112 countries not already adopting LEED rating system
+ Northland Power Inc. commenced commercial operations at its 260 megawatt natural gas fired generating facility at North Battleford
+ Moose Creek Energy opened its new landfill gas-to-energy plan near Ottawa(JV of Energy Ottawa Inc. and Integrated Gas Recovery Services)
+ Borealis Infrastructure Management Inc. boosted its offer to acquire British water company Severn Trent PLC to $8.4 billion
+ BlueEarth Renewables Inc. agreed to acquire 4 solar powered plants in Ontario from Canadian Solar Inc. for $225 million
+ Infrastructure Ontarioissued RFQ for Cambridge hospital redevelopment
+ affordable housing glitches over sewer service in Calgary; 50-unit project for Bowness won’t get its permit till 2017; meanwhile 88 unit Lumino tower in the south can’t open because the developer didn’t put in a sewage drain [one has to wonder about the watchful eyes of the Calgary Housing Company (a.k.a. the City of Calgary) for missing that important detail . . .]
+ Pure Multi-Family REIT closed its US$ 45.4 million Hackberry Creek acquisition in Las Colinas suburb of Dallas
+ Sears Canada Inc. announced it will develop $1 billion office and condo property on its Burnaby, BC site . . . odd, we-thinks, since a money-losing retailer does not a successful developer make; stay tuned, this may unfold differently!
+ H&R REIT’s Primaris unit agreed to acquire Peter Pond Mall in Fort McMurray for $168.5 million
FACILITYCalgary- Calgary oil & gas, business and real estate NEWS, Mark Kolke (Editor) - President, MaxComm Realty Advisors - Calgary office leasing, Calgary industrial leasing, P3 Public Private Partnerships - MaxComm Communications Publisher
