Inter Pipeline Ltd. (IPL.TO)
- CNW Group
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- The Canadian Press
Most actively traded companies on the Toronto Stock Exchange
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,142.89, up 161.12 points.)Canadian Natural Resources (TSX:CNQ). Up 51 cents, or 2.31 per cent, to $22.60 on 13.3 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up three cents, or 0.18 per cent, to $16.92 on 9.1 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 5.06 per cent, to 37.5 cents on 7.4 million shares.Aurora Cannabis. Inc. (TSX:ACB). Health care. Up $1.28, or 15.15 per cent, to $9.73 on 6.1 million shares.Bank of Nova Scotia. (TSX:BNS). Financials. Down 27 cents, or 0.49 per cent, to $54.31 on 5.4 million shares..Kinross Gold Corp. (TSX:K). Materials. Down three cents, or 0.24 per cent, to $12.24 on 5.2 million shares.Companies in the news: Bombardier Inc. — Bombardier Inc. shares fell to a new low Tuesday after Spirit AeroSystems said some closing conditions on its planned acquisition of Bombardier's aerostructures business remain unmet, injecting a degree of uncertainty into the deal. The US$500-million sale of facilities in Belfast and Morocco forms a key part of Bombardier's shift from a commercial plane-and-train maker to a pure-play manufacturer of private jets. The deal is also critical to buoying the Montreal-based company's balance sheet, which is currently weighed down by more than US$9 billion in debt. Spirit says the agreement will automatically terminate if conditions are not satisfied by Oct. 31, according to filings it submitted Tuesday to the U.S. Securities and Exchange Commission.BlackBerry Ltd. (TSX:BB). Up 24 cents, or 3.8 per cent to $6.57. BlackBerry Ltd. and Telus Corp. say Edmonton's police service has signed on to become a customer for a secure emergency preparedness system that's used by the U.S. government. They didn't disclose financial details of their deal with Edmonton Police Service. BlackBerry acquired AtHoc four years ago as it was strategically shifting emphasis from smartphones towards secure communications for organizations. It says AtHoc is used by organizations around the world, including coverage for U.S. federal departments and agencies.Inter Pipeline Ltd. (TSX:IPL). Up 27 cents or two per cent to $13.54. A year after putting its European bulk liquid storage business on the block, Inter Pipeline Ltd. has signed a deal to sell most of it to the Madrid-based CLH Group for $715 million. The sale includes all of the Calgary-based company's bulk liquid storage and handling assets in the United Kingdom, Ireland, the Netherlands and Germany. CLH chairman Jose Luis Lopez de Silanes said the deal will make the company the industry leader in Europe with operations in eight countries. The purchase includes 11 U.K. terminals plus two in Germany and one terminal in each of Ireland and the Netherlands with a combined storage capacity of about 18 million barrels.Dye & Durham Ltd. (TSX:DND). Down 18 cents to $22.93. Cloud software company Dye & Durham Ltd. of Toronto has signed a deal to buy U.K.-based rival Property Information Exchange Ltd. for $52.9 million. Property Information Exchange offers cloud-based real estate due diligence products in the United Kingdom. Dye & Durham said the company is a direct competitor and it plans to integrate and streamline the offerings of the two business. In connection with the deal, Dye & Durham said Tuesday it will raise $50 million in a private placement of shares that will be used to help pay for the acquisition. The company completed its initial public offering and began trading on the Toronto Stock Exchange on July 17. It raised $172.5 million in the offering and over-allotment option.This report by The Canadian Press was first published Sept. 22, 2020.The Canadian Press
- The Canadian Press
Inter Pipeline signs deal to sell majority of European storage business
CALGARY — A year after putting its European bulk liquid storage business on the block, Inter Pipeline Ltd. has signed a deal to sell most of it to the Madrid-based CLH Group for $715 million.The sale includes all of the Calgary-based company's bulk liquid storage and handling assets in the United Kingdom, Ireland, the Netherlands and Germany."Monetizing a significant portion of our European asset base enables us to focus resources on developing our higher growth Canadian businesses," Inter CEO Christian Bayle said in a news release Tuesday."As such, proceeds from the sale will be used to reduce debt, strengthen our balance sheet and assist with financing our large capital expenditure program, including the Heartland Petrochemical Complex."CLH chairman Jose Luis Lopez de Silanes said the deal will make the company the industry leader in Europe with operations in eight countries.“This agreement represents a unique opportunity to continue the company’s international expansion and consolidate its presence in the European market," he said in a statement.The purchase includes 11 U.K. terminals plus two in Germany and one terminal in each of Ireland and the Netherlands with a combined storage capacity of about 18 million barrels.Inter said it will keep its eight terminals in Sweden and Denmark with 19 million barrels of aggregate storage capacity. Inter bought six of its terminals in the United Kingdom and the one in Amsterdam in the fall of 2018 for $354 million in a deal with Texas-based NuStar Energy. In May, Inter warned the cost of building its Heartland complex under construction near Edmonton had risen by about half a billion dollars to about $4 billion and its in-service date may be delayed to early 2022 from late 2021 due to factors including the COVID-19 pandemic.The facility is designed to to convert abundant Alberta propane into polypropylene plastic pellets for export to manufacturers.The CLH deal is expected to be completed in the fourth quarter, subject to closing conditions and regulatory approvals.This report by The Canadian Press was first published Sept. 22, 2020.Companies in this story: (TSX:IPL)Dan Healing, The Canadian Press
