+ The speed of the boss is the speed of the team. – Lee Iacocca
+ If you cannot do great things, do small things in a great way. – Napoleon Hill
INFRASTRUCTURE / P3
+ Alex Kotsopoulos to Lead, Infrastructure Economics Service @ Collins Barrow Toronto
+ Hatch Mott MacDonald’s Canadian unit growing its infrastructure business’ announced it will hire 1,000 new engineering and infrastructure professionals in Canadian and U.S. office
+ TransAlta Corporation and TransAlta Renewables Inc. agreed to invest in TransAlta's Sarnia Cogeneration Plant, Le Nordais wind farm and Ragged Chute hydro facility for a combined value of approximately $540 million; portfolio consists of 611 MW of generation assets in Ontario and Quebec
OIL SANDS NEWS
+ Foresight Cleantech Accelerator Centre and Canada's Oil Sands Innovation Alliance (COSIA) launched "ARCTIC Innovation Challenge" to develop and provide advanced technologies for Canada's Oil Sands sector to reduce energy use and greenhouse gas emissions
+ Air Liquide agreed to acquire Airgas for US$10.3 billion
+ Alberta Government’s climate change strategy was released in advance of COP 21 Paris Climate Change Conference; economy-wide tax on carbon and emissions from coal-fired power plants will cost Albertans $3 billion between now and 2030; a phased-in $30/tonne carbon tax, hard cap on oil sands emissions starting in 2017, and ending coal-fired power generation by 2030. Most industry lobby groups and oil sands producers have endorsed the policy announcement in principle while coal-focused/dependent communities are very nervous … tic toc …
+ Alberta Investment Management Corporation (AIMCo) acquired 8% of TransAlta Renewables Inc. for $200 million
+ Alberta land sale Nov. 18 netted $20.59 for the Government of Alberta; y-t-d $279.3 million
+ Altura Energy Inc. announced its 2016 CapEx Budget is $23.2 million
+ Canadian Pacific formalized its $28 billion cash and stock takeover bid to acquire/merge with Norfolk Southern Corp.; combination would create a massive transcontinental railroad; government approvals will likely take a long time in both Canada and the U.S. and, question of whether head office will remain in Calgary has not been answered … tic toc …
+ Candax Energy closed its going-private transaction with major shareholder Geofinance N.V
+ Circa Enterprises Inc. agreed to acquire Alberta Computer Cable Inc.; terms not disclosed
+ Conoco Phillips is going forward with a US$900 million Alaska North Slope drilling project; production expected in 2018
+ current energy prices – live link to Bloomberg energy prices ; crude slumping still on supply glut - Saudi pledging that OPEC will work for price stability; Brent US$45.83/bbl, WTI US$41.74/bbl
+ Eagle Energy Trust agreed to acquire Maple Leaf Royalties Corp. for $13.2 million
+ Hatch Mott MacDonald’s Canadian unit growing its infrastructure business’ announced it will hire 1,000 new engineering and infrastructure professionals in Canadian and U.S. office
+ Husky Energy Inc. announced it will go forward with Rush Lake 2, a 10,000/bbls/day heavy oil thermal development in Saskatchewan; project will be in production in 2018
+ Manitoba Telecom Services Inc. (MTS) agreed to sell MTS Allstream to Zayo Group Holdings Inc. for $465 million
+ Quattro Exploration and Production Ltd. closed $1,944,180 cash and shares acquisition of BC & Alberta assets
+ RioCan REIT reached a settlement with Target Corporation on 18 defaulted leases; $132 million on those leases, $92 million of which flows to RioCan, the balance to partners on different properties
+ Suncor Energy Inc. announced its 2016 CapEx Budget is $6.7 billion
+ Tech Resources Ltd. cutting spending $650 million next year, slashing more than 1,000 jobs
+ Trilogy Energy Corp. agreed to sell a portfolio of Duvernay assets in the Kaybob Duvernay for US$85 million; deal also involves a swap of 5.25 net sections to consolidate the company’s holdings
+ UGE International Ltd. agreed to acquire Endura Energy Project Corp.
THIS WEEK IN FINANCINGS
- proposed & closed
+ Algonquin Power & Utilities Corp. is on the market to raise $150 million in equity
+ AltaGas Ltd. closed $200 million preferred share issue
+ AutoCanada Inc. secured $250 million credit facility
+ BCE Inc. is on the market to raise $750 million in equity
+ Brookfield Renewable Energy Partners LP is on the market to raise $125 million via preferred units
+ Choice Properties REIT is on the market to raise $200 million in sr. unsecured debt
+ Grande West Transportation Group Inc. is on the market to raise $3,565,000 by a common share & warrants issue
+ Manulife Financial Corporation is on the market to raised $1.0 billion in subordinated debt
+ Pembina Pipeline Corporation closed $460 million overallotment of its recent equity financing
+ PetroShare Corp. closed US$4.6 million equity financing
+ Renaissance Oil Corp. closed US$20 million term debt facility
+ Smartcool Systems Inc. is on the market to raise $1.0 million in equity
+ Alberta Government’s climate change strategy was released in advance of COP 21 Paris Climate Change Conference; economy-wide tax on carbon and emissions from coal-fired power plants will cost Albertans $3 billion between now and 2030; a phased-in $30/tonne carbon tax, hard cap on oil sands emissions starting in 2017, and ending coal-fired power generation by 2030. Most industry lobby groups and oil sands producers have endorsed the policy announcement in principle while coal-focused/dependent communities are very nervous … tic toc …
+ Foresight Cleantech Accelerator Centre and Canada's Oil Sands Innovation Alliance (COSIA) launched "ARCTIC Innovation Challenge" to develop and provide advanced technologies for Canada's Oil Sands sector to reduce energy use and greenhouse gas emissions
INTERESTING REAL ESTATE NEWS, other places
+ Chartwell Retirement Residences new project in Vaudreuil-Dorion, Quebec involves $65 million construction; first phase will be 275 rental units
+ Manulife Real Estate opened 6-floor, 250,000 sq. ft. AAA office tower; 980 Howe St., downtown Vancouver
+ PNC Realty Investors purchased 333W Wacker Drive, a 36-floor Chicago office tower for US$320.5 million; vendor was Hines Interests LP
this week in REITS
+ Choice Properties REIT completed its $45.6 million acquisition of small portfolio of Loblaw Companies Limited assets in Ottawa
+ RioCan REIT reached a settlement with Target Corporation on 18 defaulted leases; $132 million on those leases, $92 million of which flows to RioCan, the balance to partners on different properties
