+ Do not go where the path may lead, go instead where there is no path and leave a trail. – Ralph Waldo Emerson
INFRASTRUCTURE / P3
+ General Electric completed its €12.35 billion acquisition of Alstom’s power and grid business
+ Government of Alberta (GOA) is going forward with High River flood mitigation to avoid a repeat of 2013 flooding; additional $30 million now for infrastructure to the Town of High River, and changes to the Disaster Recovery Program to speed unresolved property owner claim files (550 still outstanding)
+ GOA made and $830 million capital commitment over 5-years to create the new Calgary cancer centre; to be built on Foothills Medical Centre campus; part of a 5-yr./$2.2 billion plan
+ Hydro One Inc. closed its $46.2 million acquisition of Woodstock Hydro Holdings Inc.
+ current energy prices – live link to Bloomberg energy prices ; crude up slightly this week but outlook remains bearish as supply still exceeds demand …
+ Dejour Energy Inc. completed its name change to: DXI Energy Inc.
+ Fiera Capital Corporation closed its US$ 31.5 million acquisition of Samson Capital Advisors LLC
+ Finance Minister Joe Ceci tabled his government’s plan, including a projected $6.1 billion defecit: 2015 Budget; link to the budget speech text .. Includes $50 million to Alberta Enterprise Corporation to aid startups ..
+ General Electric completed its €12.35 billion acquisition of Alstom’s power and grid business
+ GFL Environmental Inc. agreed to acquired TransForce’s waste management unit for $800 million
+ Husky Energy caused a market ripple; they are going to pay their dividend in stock rather than cash which the market hasn’t responded to very well – their press release is so similar to other majors … cutting staff, curtailing costs, reducing capital expenditures – and their looking at some asset sales after eliminating 1,400 positions … tic toc …
+ Imperial Oil Ltd. cut $1 billion in costs and, so far, have avoided job cuts
+ Royal Bank of Canada closed its US$5 billion acquisition of City National Corporation;
+ Royal Dutch Shell plc halted construction at its 80,000 bbls/d Carmon Creek in-situ project
+ Scotiabank is increasing its commitment to Roynat Capital; re-establishing Roynat Capital Executive Office in Calgary, increasing staff and mandate
+ Tidewater Midstream and Infrastructure Ltd. agreed to acquire a gas processing plant and related pipelines for $17 million
+ Tidewater Midstream and Infrastructure Ltd. agreed to acquire a retail propane business for $5.2 million
+ TransCanada Corporation got final regulatory approval for its $5 billion natural gas pipeline to connect NE BC gas fields to Prince Rupert for LNG export
+ TransCanada Corporation asked U.S. State Department to ‘pause’ its process of Keystone XL review while Nebraska re-routing works its way through regulatory process – which should delay the whole process a year or more; in light of U.S. elections next year, a provocative tactic … tic toc …
+ University of Calgary is facing allegations that undue influence by Enbridge in connection with its funding of the Enbridge Centre for Corporate Sustainability has impacted academic freedom at U of C … tic toc …
+ U.S. Congress and White House reached a budget and debt ceiling deal; political peace for now, financial market peace too, but lots of skepticism about the wisdom of it all; provision in that budget calls for selling off part of the Strategic Petroleum Reserve 2018-2025 to raise cash
THIS WEEK IN FINANCINGS
- proposed & closed
+ Brookfield Infrastructure is on the market to raise $500 million in debt
+ Milestones Apartments REIT closed $143.9 million equity financing
+ Orca Exploration Group Inc. closed US$60 million debt financing
+ Petroamerica Oil Corp. is on the market to raise US$20 million in secured debt
+ PetroMaroc Corporation plc is on the market to raise $1.0 million in debt
+ Petromin Resources Ltd. is on the market to raise $300,000 in common share & warrants issue
+ Superior Plus Corp. closed $138 million equity financing
+ Synodon Inc. is on the market to raise $2.0 million in a common share & warrants issues
+ Temple Hotels Inc. closed $40 million rights offering
+ Tidewater Midstream and Infrastructure Ltd. secured $70 million credit facility
+ Traverse Energy Ltd. closed $700,800 equity financing
CLIMATE CHANGE / LEED / RENEWABLE ENERGY
+ a carbon-capture facility in Saskatchewan is coming back online, officials saying it will be fully operational -- even if it's not operating full time. SaskPower have had to replace many components at the $1.5-billion facility at the Boundary Dam power plant south of Estevan. The goal is to reduce carbon-dioxide emissions by one million tonnes annually. The facility has removed 400,000 tonnes so far this year.
INTERESTING REAL ESTATE NEWS, other places
+ Brookfield Property Partners LP and Qatar Investment Authority formed a JV; plan is to develop US$8.6 billion in West Manhattan, mixed use project; office buildings, hotel, apartments and retail. First tower, 67 storys will open in 2019 with Skaden Arps law firm as its anchor tenant
+ OMERS (Ontario Municipal Employees Retirement System) and Temasek are buying a central London office asset. OMERS’ real estate arm, Oxford Properties, and the Singaporean government’s Temasek are paying $838 million for the Blue Fin Building; fully leased 497,000-square-foot asset
+ Parkit Enterprise Inc.’s JV acquired Fly Away Airport Parking in Nashville; 1,140 stall facility on 8.5 acres was acquired for US$8.0 million
+ Starwood Hotels & Resorts Worldwide is in play; three Chinese firms competing to win the day; expected deal size is US$12 billion. Hyatt are also reported to be in the hung for the 1,200 property portfolio … tic toc …
this week in REITS
+ American Hotel Income Properties REIT LP agreed to acquire 70-room rail crew lodging property in Fort Scott, Kansdas for US$3,315,000
+ Artis REIT agreed to acquire Canadian Pacific Plaza in Minneapolis, a 393m884 sq. ft, Class A office property
+ Lanesborough REIT closed its $70.25 million acquisition of Colony Square in Winnipeg
+ Northern Property REIT completed its acquisitions of properties from True North Apartment REIT and Starlight Investments Ltd.; and, changed its name to Northview Apartment REIT
+ Slate Retail REIT agreed to acquire Little River Pavillion shopping centre in Little River, South Carolina for US$10.1 million
+ Temple Hotels Inc. closed $40 million rights offering
KUDOS
+ to Dr. Margaret Churcher, named Alberta’s Family Physician of the Year for 2015
FACILITYCalgarynewsletters may not be reproduced, distributed, transmitted, displayed, published or broadcast, directly or indirectly, in any medium without prior written permission. Mark Kolke, Editor/Publisher. All rights reserved.
- this website is maintained and updated weekly - last updated September 19, 2023
