TORONTO, Nov. 13, 2020 /CNW/ – Credit Suisse Securities (Canada), Inc. (“CSSC”) announces that on November 2, 2020, as a result of a previously announced arrangement agreement (the “Transaction”) involving Northview Apartment Real Estate Investment Trust (the “Issuer”), affiliates of Starlight Group Property Holdings Inc. and KingSett Capital Inc., acquired ownership of 7,144,395 units in the capital of the Issuer (“Units”) held by CSSC, representing approximately 10.5921% of the issued and outstanding Units of the Issuer, and 100% of the Units beneficially owned and controlled by CSSC. As a result of the Transaction, CSSC no longer beneficially owns and controls no securities of the Issuer. Units ceased to be traded on the Toronto Stock Exchange as of November 3, 2020 and the Issuer has since been dissolved.
This news release is issued by CSSC pursuant to National Instrument 62–104 Take–Over Bids and Issuer Bids. CSSC will file a news release and an associated report in respect of this disposition with the applicable Securities Commission or Securities Regulator in each jurisdiction in which the Issuer was a reporting issuer on the date of the disposition.
Credit Suisse Securities (Canada), Inc.
1 First Canadian Place
Suite 2900, P.O. Box 301
Canada M5X 1C9
Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,860 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Copyright © 2020, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
SOURCE Credit Suisse Securities (Canada), Inc.
For further information: Press Contact: Karina Byrne, Credit Suisse AG, telephone +1 212 538 8361, [email protected]
City makes investment in water and waste as part of $2.3B capital plan – Winnipeg Sun
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Chairperson of the City’s Water and Waste, Riverbank Management and the Environment committee, Coun. Brian Mayes (St. Vital) said in a statement on Tuesday he wants to see a reduction in sewage spills into rivers “with a $180 million commitment over the next six years.”
In a statement, the city said its capital investment plan will also invest $117 million in water main renewals, $117 million in sewer main revitalization over the next six years, and $39 million towards residential water meter renewal.
Environmental investments, the city explained, will contribute to the protection of Lake Winnipeg through upgrades to the North End Sewage Treatment Plant (NESTP), which they say are vital to future development in Winnipeg.
In September, council voted unanimously to endorse a request from the province to transfer $321.24 million of federal funds from the Transit Stream to the Green Infrastructure Stream under the Investing in Canada Infrastructure Program (ICIP) in support of upgrades to the NESTP.
The city said its decision hinged on the provincial government providing its share of $267.7 million towards the upgrade.
Water and Waste 2021 budget report facts:
Number of complaints about raw sewer backups 2017: 687 2019: 1,000
Number of complaints about water taste and odour 2017: 205 2019: 133
Number of water quality tests conducted 2017: 66,734 2019: 63,952
Kilometers of sewer inspected and cleaned 2017: 124 2019: 157
Number of industrial waste tests conducted 2017: 41,522 2019: 64,361
Investing in a sustainable future – Kaleido introduces its Sustainable Investment Policy – Canada NewsWire
QUEBEC CITY, Dec. 1, 2020 /CNW Telbec/ – Kaleido, the pioneer in education savings, is introducing a new responsible and sustainable investment strategy this December with its new Sustainable Investment Policy. One financial action at a time, Kaleido is working to build a brighter future.
“Sustainable investment means more than just investing in environmentally responsible firms,” says Isabelle Grenier, President and CEO of Kaleido. “We’re proud to say that 100% of our asset managers consider environmental, social, and governance factors—ESG criteria—when choosing what securities to invest in. We have an enormous responsibility as asset managers because every choice counts!”
ESG investing prioritizes organizations that create lasting value while making positive contributions on important social and environmental issues. It’s a philosophy that goes hand-in-hand with Kaleido’s work in education savings. After all, our goal is to build value over the years so our families can use their investments for their children’s postsecondary studies.
Kaleido also advocates for best practices in sustainable investment along with other national leaders in the field as an associate member of Canada’s Responsible Investment Association (RIA).
“We are committed to staying ahead of the curve. Our portfolio managers are already taking positions in favor of workplace safety and greenhouse gas reduction, for example. Our Sustainable Investment Policy is one more step towards our goal to create a brighter future for our youth,” says Grenier.
As always, Kaleido is driven by the conviction that all children can achieve their full potential when given the means. To give future generations the same chance, it is both logical and vital to invest in companies and initiatives that are working toward that goal.
Kaleido helps families in Quebec and New Brunswick give their children a leg up on future success. Every day more than 100 employees and as many representatives create brighter opportunities for youth through education savings, parent support, and insurance solutions.
Kaleido has been a pioneer in education savings since 1964. Over the years the organization has issued $993 million in educational assistance payments and savings refunds to benefit more than 227,000 young people. Kaleido has $1.7 billion in assets under management.
To learn more, visit kaleido.ca/en and follow us on social media.
SOURCE Kaleido Growth Inc.
For further information: Patrick Pedneault, Media Relations, [email protected], 418-651-8977, ext. 2312
BMO to exit oil and gas investment banking in the US – BNN
Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry.
BMO said it has made “the financial decision for an orderly wind-down of our non-Canadian investment and corporate banking energy business.” Going forward, the company said by email, its capital markets energy business will be focused on Canada.
The company is eliminating about 50 positions in its investment banking group as part of the exit that was announced to staff on Monday, according to a person with direct knowledge of the situation who asked not to be identified because the information isn’t public. A handful of corporate bankers will manage BMO’s U.S. oil and gas loan book, the person said.
BMO is the latest bank to halt investment banking tied to U.S. oil and gas explorers, which even before the pandemic were facing pressure after years of generating meager returns. The move didn’t appear to be related to ESG concerns plaguing fossil fuel companies. America’s shale industry has been swept up in a wave of consolidation in recent months as the pandemic slashes oil demand, drags down prices and forces low-premium mergers. That follows years of lackadaisical M&A activity in the oil patch.
On Tuesday, BMO reported gross impaired loans in its U.S. oil and gas portfolio of $457 million at the end of its fiscal fourth quarter, compared with only $93 million for the industry in Canada and other countries.
BMO’s U.S. oil and gas loan book was about $7 billion as of July 31, making up half of its overall oil and gas loans, according to a company presentation.
–With assistance from Derek Decloet.
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