Jump to content

Search the Community

Showing results for tags 'stake'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Real estate projects
    • Proposals
    • Going up
    • Completed
    • Mass Transit
    • Infrastructures
    • Cultural, entertainment and sport projects
    • Cancelled projects
  • General topics
    • City planning and architecture
    • Urban photography
    • Urban tech
    • General discussions
    • Entertainment, food and culture
    • Current events
    • Off Topic
  • MTLYUL Aviation
    • General discussion
    • Spotting at YUL
  • Here and abroad
    • Quebec City and the rest of the province of Québec.
    • Toronto and the rest of Canada
    • USA
    • Europe
    • Projects elsewhere in the world

Calendars

There are no results to display.

There are no results to display.

Blogs


Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


About Me


Biography


Location


Interests


Occupation


Type of dwelling

Found 5 results

  1. http://argent.canoe.ca/nouvelles/canada/cirque-du-soleil-guy-laliberte-vendrait-ses-parts-25032015 This is not good news. Another Quebec company for sale. Let's see how this plays out
  2. I saw Total has ads in the metro now. Saw some of them at the Atwater stop. I wonder if they are just for F1 or they are planning on coming to Montreal and setting up stations. If they are setting up shop, I guess Power Corp wants to get back into the petrol business. Seeing they use to own Shell or something and they own a 4.0% stake in Total (through Pargesa Holding S.A) Info (Wiki)
  3. Toronto : OMERS grabs rest of TD Tower LORI MCLEOD From Saturday's Globe and Mail July 25, 2008 at 8:34 PM EDT Brookfield Properties Corp. has sold its stake in one of the two Toronto skyscrapers that make up its flagship Brookfield Place, a surprise deal that set a new price record for Canadian office space. Brookfield said Friday it sold its half-interest in the TD Canada Trust Tower to co-owner OMERS Realty Corp. for $721 a square foot. OMERS, part of the Ontario Municipal Employees Retirement System, acquired full ownership after triggering the shotgun clause in its partnership agreement with Brookfield, a commercial property company based in New York. The move led to rumblings that friction between the partners may have sparked the deal, but this wasn't the case, said Tom Farley, president and chief operating officer of Brookfield's Canadian commercial operations. “Absolutely not. Brookfield and OMERS have a terrific relationship. The building was and is 100-per-cent leased, OMERS decided they wanted to own 100 per cent … and we found the price to be attractive,” Mr. Farley said. If Brookfield had not wanted to sell its stake, it would have had the option of buying OMERS' stake under the partnership agreement, he added. The record price paid for the 51-storey tower built in 1990 suggests demand for top quality buildings remains strong despite fears of a spreading real estate slump, said Michael Smith, analyst at National Bank Financial. “This sets a new benchmark price for rare, trophy assets, which simply don't come on the market that often,” he said. The next highest recorded price paid for a large office building was $625 a square foot for the Harry Hays Building in Calgary in 2007, according to data from CB Richard Ellis Ltd. Friday's purchase comes at a time when Canada is experiencing its greatest shortage of office space in 10 years. However with 3.7 million square feet in development in Toronto alone, vacancy rates in the city are expected to pop to 10 to 12 per cent in the next two years from 4.4 per cent in the second quarter of 2008, according to CB Richard Ellis. The market will still have strong fundamentals, and the deal confirms Brookfield Place's position as a premier asset in the downtown core, said Paul Morse, senior managing director of office leasing at Cushman & Wakefield LePage. Brookfield still owns 100 per cent of Brookfield Place's larger Bay Wellington Tower, 50 per cent of the complex's shared retail space and 56 per cent of the parking, Mr. Farley said. “If in fact we had sold out our entire interest in the property I would have had mixed feelings, but we still have a significant ownership interest in one of the best properties in Canada, if not North America,” he said. Brookfield's gross proceeds from the sale of $425-million could be used for a variety of purposes, including acquisitions in North America, Mr. Farley said. The funds could also be used to buy back shares or pay down debt, he added. Mr. Smith said the purchase makes sense strategically for OMERS, which has already been doing extensive renovations at the Royal Bank Plaza across the street from Brookfield Place. Representatives from OMERS weren't available to comment on the deal. http://www.reportonbusiness.com/servlet/story/RTGAM.20080725.wtdcentre0725/BNStory/Business/home
  4. http://www.montrealgazette.com/business/Saputo+cent+stake+Life+building+reports/10195809/story.html Ivanhoe Cambridge, the real-estate arm of the Caisse de dépôt et placement du Québec, apparently has found a buyer for the 50 per cent stake in the Sun Life building that it put on the market earlier this year. Published reports Thursday identified the buyers as Montreal’s Saputo family and partners, and the transaction price at $140 million. The Caisse’s real-estate division reportedly acquired its stake for $64 million. Ivanhoe Cambridge has shared ownership of the Metcalfe St. building with insurer Sun Life since 2000. © Copyright © The Montreal Gazette
  5. Tunisair May Sell Stake as Country Divests Assets (Update2) By Mahmoud Kassem June 5 (Bloomberg) -- Tunisair, the national airline of Tunisia, may sell a 15 percent stake as the North African country disposes of state assets amid an equities boom. ``We might sell more shares to a strategic investor, but the government will always want to hold a controlling stake,'' Adel Gaida, chief financial officer of Tunisair, or Societe Tunisienne de l'Air, said in an interview yesterday in London. ``We have been thinking of doing this for some time, though we don't have a timetable.'' Tunisia is selling assets to attract investment as buyers, particularly from the oil-rich Persian Gulf region, pour money into a country that isn't on emerging-market equity indexes and is commonly classed as a ``frontier market.'' Tunisia's main stock index, the Tunindex, has advanced 13 percent this year, making it the best-performing index in North Africa. Tunisair rose 0.8 percent to 4.05 dinars in Tunis trading as of 11:50 a.m. The stock has gained 6.6 percent this year, giving the company a market value of 329 million Tunisian dinars ($278 million). The airline serves more than 50 destinations in 25 countries and carried 3.5 million passengers last year. The government holds 74 percent. Companies on the Tunindex have one of the cheapest average price-to-earnings ratios in the Middle East at 13 times estimated earnings. The Dow Jones Arabia Titans 50 Index, a measure of 50 Arab stocks in 10 countries, trades at 21 times estimated earnings. The Tunisian government raised as much as $2.25 billion from the sale of a 35 percent stake in Telecom Tunisie, the country's largest telephone company, in 2006. Tunisair Expansion Tunisair is expanding in Africa and adding trans-Atlantic and Asian destinations, Gaida said. The carrier owns a 51 percent stake in Air Mauritania, which it formed as a joint venture in December 2006. Air France-KLM Group has a 5.6 percent stake in Tunisair, while 20 percent of shares trade freely. ``We are planning to add New York, Montreal, Beijing and Tokyo on our list of destinations, but that won't happen until we get our new fleet starting from 2011 because we would need A350s for the long haul,'' Gaida said. The airline's primary business is flying vacationers from Europe to beaches in Tunis. Airbus SAS, the world's largest planemaker, said on April 29 that Tunisair agreed to a 16-plane order valued at as much as $2 billion at list prices. Tunisia plans to acquire three twin- aisle A350-800 airliners, three A330-200s and 10 single-aisle A320s from the Toulouse, France-based manufacturer. ``We prefer to stick to one manufacturer because it saves us costs in maintenance,'' Gaida said. ``We will pay 10 percent of the cost of the new Airbuses and the remainder we will seek credit for.'' Tunisair's revenue rose 12 percent in the first quarter, compared with the same period a year ago. The company may distribute a dividend on 2007 profit this year, Gaida said. To contact the reporter on this story: Mahmoud Kassem in London at [email protected] Last Updated: June 5, 2008 06:06 EDT http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXYjvLDxX8pg
×
×
  • Create New...
adblock_message_value
adblock_accept_btn_value