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Dorel Reaches 'Agreement in Principal' to Go Private Following Cerberus Transaction – Pinkbike.com

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Dorel Sports has reached an agreement in principle to return to being a private business following an agreement with a buyer group led by Cerberus Capital Management and its current ‘Family Shareholders’ – Martin Schwartz, Jeffrey Schwartz, Alan Schwartz and Jeff Segel.

Dorel Sports, the parent company of GT, Cannondale, Mongoose and more, was founded and went public in 1987 following a merger of Dorel Co. Ltd., a juvenile products company founded by Leo Schwartz in 1962, and Ridgewood Industries, a flat-pack furniture company established by Martin Schwartz, Jeff Segel and Alan Schwartz in 1969.

The Cerberus Capital Group’s current investment portfolio includes more than 40 companies around the world across a wide variety of industries. It is apparently in exclusive discussions to purchase all Dorel shares for C$14.50 per share in cash except those held by the founders of the brand. This would leave the Family Shareholders approximately 19.18% of Dorel’s outstanding shares on an economic basis and 60.17% on a voting basis.

In a letter seen by Bicycle Retailer and Industry News that was sent to Dorel customers, Martin Schwarz explains that, “As a private company our shares will no longer be publicly traded on the stock exchange. We will have the liberty to pursue new opportunities faster, free from constant market scrutiny,” with the “increased flexibility afforded to a private enterprise”. The letter goes on to reassure recipients that the aim of the transaction is to grow Dorel with increased access to capital and that there are no financial concerns for the business.

Dorel began its search for a partner for potential privatization in December 2019. 25 potential partners were considered and on September 4, 2020 the Family Shareholders granted exclusivity to Cerberus to complete due diligence and negotiate terms for the proposed privatization.

The non-binding proposal is subject to Dorel and the Buyer Group entering into a definitive agreement, which will require shareholder, regulatory and court approvals, including approval by a majority of votes cast by Dorel’s minority shareholders. More information can be found in Dorel’s press release, here.

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Housing growth, auto loans drive up demand for credit in third quarter: Equifax – Business News – Castanet.net

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Consumer demand for credit intensified in the third quarter, driven chiefly by increases in mortgage balances and new auto loans, according to data released Monday by credit reporting agency Equifax.

Mortgage balances and new auto loans were up 6.6 per cent and 11.7 per cent year over year, respectively, according to Equifax. Overall average consumer debt increased 3.3 per cent compared with the third quarter of last year.

Rebecca Oakes, assistant vice-president of advanced analytics at Equifax Canada, said in an interview that growth in mortgages last quarter was especially high, with the largest increase among people under 35. That trend comes even as economic fallout from the pandemic and associated lockdown measures hit young people especially hard.

“In terms of new mortgages, that could be refinancing, or it could be brand-new, first-time homebuyers or it could be people moving house,” Oakes said. “That was actually the highest value that we’ve seen ever.”

The increased demand for auto loans in the third quarter could have been a result of pent-up demand from people who had to wait to buy cars later in the year, Oakes said.

The figures in Equifax’s report are drawn from banks and other lenders that provide data to the credit rating agency.

Equifax pegged total consumer debt at $2.04 trillion, while Statistics Canada reported in June that household debt had reached $2.3 trillion, with $1.77 in debt for every dollar of household disposable income.

More than three million consumers have chosen to use payment deferral programs since the start of the COVID-19 pandemic, according to Equifax. Since the start of this year, some banks have offered consumers the option to suspend their loan payments for several months, in recognition of the financial strain the pandemic has created for many households.

However, under the payment deferral programs, interest continues to accrue during the months for which payments are suspended.

The percentage of balances where credit users have missed three or more payments was at its lowest level since 2014, with deferral programs likely masking the true delinquency rates, according to Oakes.

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Stock market news live updates: Dow falls, but heads toward best month in more than three decades – Yahoo Canada Shine On

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GlobeNewswire

Biological Seed Treatment Market to be worth USD 2,037.5 Million By 2027 | Reports and Data

The rising demand in the agricultural sector for food grains and the scarcity of arable lands are driving the demand for the Biological Seed Treatment market.New York, Nov. 30, 2020 (GLOBE NEWSWIRE) — The Global Biological Seed Treatment Market is forecast to reach USD 2,037.5 million by 2027, according to a new report by Reports and Data. Rising demand in the agriculture sector for food grains and growing R&D to increase crop yield and seed potential is expected to drive the growth of the biological seed treatment market. The growing focus on organic farming in the agricultural sector is most likely to fuel the demand for biological seed treatment over the forecast period. The escalating need to enhance plant nutrients’ availability in the root system is boosting the demand for biological seed treatment solutions. The increasing awareness pertaining to the adverse effects of chemical seed treatment among health-conscious consumers is furthering the utilization of biological seed treatment solutions.The high cost associated with biological seed treatments and the lack of awareness among farmers regarding sustainable agricultural practices is restricting the growth of the biological seed treatment market over the forecast period.  Get FREE Sample Copy with TOC of the Report to understand the structure of the complete report@ https://www.reportsanddata.com/sample-enquiry-form/3696Further key findings from the report suggest * The increasing demand in the agricultural sector for food grains and scarcity of arable lands are driving the growth of the market. The increase in awareness among consumers regarding the environment and health has propelled the market growth. * The government of several countries has restricted the use of chemical pesticides and is encouraging biological seed treatment products. They are taking initiatives for promoting biological seed treatment products and awarding grants for the research and development of seed treatment products. * The Asia Pacific market is expected to grow at a CAGR of 12.4% over the forecast period, making it the fastest-growing region in the biological seed treatment market. There is a significant demand for biological seed treatment in the region for the minimization of the usage of excessive pesticides. * The biological seed treatment market is adopting some wiser strategies in order to say competitive between the growing demand for the products. Prominent brands in the sector have undertaken collaborations to expand their product portfolios and enter new markets. To retain the position of products in the competitive market, companies are adopting effective marketing and branding strategies. * Key participants include BASF SE, Syngenta International AG, Bayer CropScience AG, DuPont, Monsanto Company, Koppert Biological Systems, ADAMA agricultural solutions, Plant Health Care, Incotec, and Verdesian Life Sciences, among others.  BUY NOW (Customized Report Delivered as per Your Specific Requirement)@ https://www.reportsanddata.com/checkout-form/3696For the purpose of this report, Reports and Data has segmented the Global Biological Seed Treatment Market on the basis of product, function, crop type, and region: * Product Outlook (Revenue, USD Million; 2017-2027) * Botanicals & others * Microbials (Fungi, Bacteria) * Function Outlook (Revenue, USD Million; 2017-2027) * Seed Enhancement (Biostimulants, Biofertilizers) * Seed Protection (Biofungicides, Bioinsecticides) * Crop Type Outlook (Revenue, USD Million; 2017-2027) * Wheat * Corn * Sunflower * Cotton * Soybean * Vegetable crops * OthersTo identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/biological-seed-treatment-market * Regional Outlook (Revenue, USD Million; 2017-2027) * North America 1. U.S. 2. Canada * Europe 1. Germany 2. U.K. 3. France 4. BENELUX 5. Rest of Europe * Asia Pacific 1. China 2. Japan 3. South Korea 4. Rest of APAC * MEA 1. Saudi Arabia 2. U.A.E. 3. Rest of MEA * Latin America 1. Brazil 2. Rest of LATAMTake a Look at our Related Reports:Natural Rubber Market Analysis by Product Type (RSS Grade, Latex Concentrate, Solid Block), Distribution Channel (Online, Offline), Application (Automobiles, Gloves, Footwear) and Region – Forecast To 2027Digital Farming Market Size, Share & Analysis, By Component (Hardware, Software, And Others), By Application (Precision Farming, Live Stock Monitoring, Green House Farming, And Others) And By Region – Forecasts To 2027Ornamental Fish Market By Types (Cold-water Fish, Tropical Fish) By Applications (Commercial Application, Residential Application) Forecast 2020 To 2027Fishing Nets and Aquaculture Cages Market By Type (Fishing Nets, Aquaculture Cages) By Application (Individual Application, Commercial Application) Regional Outlook And Forecasts, 2020-2027Dripline Market By Type (PC Dripline, Non-PC Dripline, Others), By Application (Farms, Commercial Greenhouses, Residential Gardeners, Others) And Region- Global Forecasts To 2027About Reports and DataReports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.Reports And Data | Web: www.reportsanddata.com Direct Line: +1-212-710-1370E-mail: sales@reportsanddata.comLinkdIn | Twitter | BlogsLinkdIn | Twitter | BlogsRead Full Press Release@ https://www.reportsanddata.com/press-release/global-biological-seed-treatment-market CONTACT: Contact Us: John W Head of Business Development Reports And Data | Web: www.reportsanddata.com Direct Line: +1-212-710-1370 E-mail: sales@reportsanddata.com LinkdIn | Twitter | BlogsLinkdIn | Twitter | Blogs

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Canadians now owe more than $2 trillion, Equifax says – CBC.ca

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Consumer demand for credit intensified in the third quarter, driven chiefly by increases in mortgage balances and new auto loans, according to data released Monday by credit reporting agency Equifax.

Mortgage balances and new auto loans were up 6.6 per cent and 11.7 per cent year over year, respectively, according to Equifax. Overall average consumer debt increased 3.3 per cent compared with the third quarter of last year.

Rebecca Oakes, assistant vice-president of advanced analytics at Equifax Canada, said in an interview that growth in mortgages last quarter was especially high, with the largest increase among people under 35. That trend comes even as economic fallout from the pandemic and associated lockdown measures hit young people especially hard.

“In terms of new mortgages, that could be refinancing, or it could be brand-new, first-time home buyers or it could be people moving house,” Oakes said. “That was actually the highest value that we’ve seen ever.”

The increased demand for auto loans in the third quarter could have been a result of pent-up demand from people who had to wait to buy cars later in the year, Oakes said.

Total debt $2 trillion

The figures in Equifax’s report are drawn from banks and other lenders that provide data to the credit rating agency.

Equifax pegged total consumer debt at $2.04 trillion, while Statistics Canada reported in June that household debt had reached $2.3 trillion, with $1.77 in debt for every dollar of household disposable income.

More than three million consumers have chosen to use payment deferral programs since the start of the COVID-19 pandemic, according to Equifax. Since the start of this year, some banks have offered consumers the option to suspend their loan payments for several months, in recognition of the financial strain the pandemic has created for many households.

However, under the payment deferral programs, interest continues to accrue during the months for which payments are suspended.

The percentage of balances where credit users have missed three or more payments was at its lowest level since 2014, with deferral programs likely masking the true delinquency rates, according to Oakes.

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