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Chorus Aviation to get cash infusion to help weather COVID-19 challenges, pay debt
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Chorus Aviation to get cash infusion to help weather COVID-19 challenges, pay debt
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Update: Private Equity Firm BC Partners Agrees to Buy Insurance Service Company Davies
BC Partners agreed to take over insurance service company Davies, as it bets on fast-growing demand for outsourcing in the financial industry.
The private equity firm signed a definitive agreement to buy a majority stake in London-based Davies, it said in a statement Tuesday, confirming an earlier Bloomberg News report. The deal values Davies at about 1.2 billion pounds ($1.7 billion) including debt, people familiar with the matter have said.
Investment funds have been pursuing service providers used by financial firms that are increasingly looking to cut costs and pass off routine work. Davies helps insurers, reinsurers and brokers assess and manage claims, as well as handle administrative duties. It uses technology including drones, which help capture images of disaster sites for use in claims processes.
The Daily Chase: Investors wary of Rogers-Shaw deal; one-on-one with Mark Carney VIDEO SIGN OUT
Shares of Shaw Communications closed almost seven dollars below the $40.50 takeover price yesterday as investors signaled apprehension about the long and daunting road ahead for closing the deal with Rogers. And itâs easy to understand why after we heard former Wind Mobile CEO Anthony Lacavera flatly stated in his conversation with Greg Bonnell during The Close yesterday that âthis is really bad for the consumer â short, medium and long-term.â Shortly before that, former Industry Minister Tony Clement said governments have faced a âconstant problemâ in ensuring wireless spectrum auctions are structured to ensure lasting, sustainable competition. Weâll continue to probe those and other important issues surrounding this transaction.
2 Min Read
NEW YORK (Reuters) - Canadian buyout firm Peloton Capital Management and Stephen Smith, the CEO of First National Financial Corp, said on Tuesday they acquired proxy advisor Glass Lewis from the Ontario Teachers’ Pension Plan Board and Alberta Investment Management Corp.
The deal, whose terms were not disclosed, comes as more investors turn to proxy advisers to advise them on how to cast their votes at the annual meetings of companies on environmental, social and governance matters. Board challenges by activist hedge funds seeking the vote of shareholders are also on the rise.
Glass Lewis’ main competitor, Institutional Shareholder Services Inc (ISS), was acquired last year by German stock exchange operator Deutsche Boerse AG for $1.8 billion.
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