Fil de presse Canada-Asie
A daily summary of Canada-Asia business and government news including top headlines from the region. Following a story? Search the archives.
Fairbridge Capital Signs Agreement to Acquire Thomas Cook of India
Fairfax Financial Holdings Limited of Toronto announced that it has, through its wholly-owned subsidiary, Fairbridge Capital, formed an agreement with UK-based Thomas Cook Group PLC to buy a 77% interest in Thomas Cook (India) Limited for a total amount of approximately US$150 million. The transaction is still subject to certain conditions, which include Thomas Cook shareholders’ approval and approval in India. Thomas Cook is an international leisure travel group. Fairfax Financial is a financial services holding company is engaged in property and casualty insurance and reinsurance and investment management. Fairbridge Capital is an investment company engaged in long-term investments and acquisitions in the Indian region.
Mediterranean Resources Signs LOI to Acquire Shares of Golden Touch Resources Australia
Vancouver-based Mediterranean Resources Ltd. announced that it has signed a Letter of Intent (LOI) with Golden Touch Resources Corp., also based in Vancouver, to acquire all of the issued and outstanding shares of its wholly owned subsidiary, Golden Touch Resources Australia Pty Ltd. Golden Touch Australia is the parent company of JAB Resources Ltd., which holds all of Golden Touch’s exploration properties in Albania. Mediterranean Resources Ltd.’s main focus is mining in Turkey.
iSIGN Media and DAT Media of Australia Sign LOI for Licensing
iSIGN Media Solutions Inc., a Toronto-based provider of interactive mobile advertising solutions for advertisers, manufacturers, retailers and advertising agencies in North America, and DAT Media, a privately owned and operated full service supplier of digital media products and services in Queensland, Australia, announced that they have signed a non-binding Letter of Intent. Under the terms of the LOI, DAT has agreed to an upfront payment of US$250,000, in exchange for 230 licenses of iSIGN’s Smart Antenna and related Interactive Marketing Solutions 3.1 software, for a period of three years. In addition, DAT will receive exclusive rights to the territories of Australia, New Zealand and Indonesia.
Puget Ventures Announces Partnership with Beijing AXHA Investment of China
Vancouver-based Puget Ventures Inc. announced that it has entered into a strategic partnership with China-based Beijing AXHA Investment Co., whose parent company is CITIC Anhua Group. Under the terms of the Memorandum of Understanding, Anhua will arrange for financing and the selection of a Chinese contractor, agreed upon by Puget Ventures, to develop a feasibility study for the Karakul cobalt project in Altai, Russia, and to provide subsequent debt financing under a joint venture arrangement. The Karakul asset is owned by Cyprus-based Pafra Enterprises Company Limited. Upon completion of the acquisition, Puget Ventures Inc. will be renamed Global Cobalt Corporation, and will be a Canada-based strategic metals company focused on the development of the mining region of Altai.
Alberta Premier Announces Trip to China in June
Alberta Premier Alison Redford announced that she will travel to China at the end of June as part of a broader Canadian delegation that includes government and industry representatives, including Scotiabank, CIBC, Cenovus and Suncor. As part of the trip, Premier Redford will attend the June 27-28 Euromoney Canada-China Investor’s Forum, which is aimed at encouraging capital flows between Canada and China, and at increasing Chinese investment in Canada.
