Streetwise newsletter: BP files for IPO of U.S. pipeline Resources; Alamos Gold to Obtain Richmont Mines

Global investment bank Lazard Ltd. landed a veteran Canadian mining deal maker from RBC Dominion Securities Inc. ahead of an expected increase in takeover activity from natural resource companies. (Andrew Willis, subscribers)


British energy company BP on Monday filed for an initial public offering of its U.S. pipeline assets.

Alamos Gold Inc. has signed a friendly deal to acquire Richmont Mines Inc. in an all-stock offer valued at about $933-million.

Andrew Peller Ltd. said Monday it has signed deals to acquire three B.C. wineries for a combined price of $95-million.


Hurricane Irma may be downgraded to a tropical depression by Tuesday, according to the U.S. National Hurricane Center. The insurance industry is breathing a sigh of relief. (Bloomberg)

China’s largest bitcoin exchanges are awaiting clarification from the government following more media reports that Beijing is planning to ban trading of virtual currencies on domestic exchanges, but markets were largely subdued on Monday.

Hedge funds are dead. Long live private assets. Remember when hedge funds were the envy of investors? The returns were magical. The managers were gods. And they bestowed their bounty on a select smart-money set. (Bloomberg)

Almost a year on, India’s ban on large-denomination bills has been deemed a “total failure.” That’s not quite fair. True, the primary goal of flushing out tax cheats has been a flop. But a secondary goal — “to move toward the cashless society,” as India’s finance minister put it — still has real promise. The rest of the world, in fact, could learn a lot from this botched experiment. (Bloomberg)

Courtesy: The Globe And Mail

Leave a Reply

Your email address will not be published. Required fields are marked *