Brookfield agrees to buy Boston office building

Article Abstract:

Brookfield Properties Corp. has forged an initial agreement to acquire Fleet Center in Boston, MA, from the New York-headquartered Equitable Life Assurance Co. in a deal valued at approximately $300 million. The deal is expected for completion at the end of August 1998. The proposed purchase of the one-million-sq-ft Boston tower is part of Brookfield's move to enhance company portfolio of office space through acquisition of properties in New York, Boston and Toronto, Canada, as its sells off smaller holdings in nearby cities.

Comment:

Will buy Fleet Center in Boston, MA, from Equitable Life Assurance Co in a deal valued at around $300 mil

Life Insurance, Direct Life Insurance Carriers, Real Estate, Real Estate and Rental and Leasing, Brookfield Properties Corp., Equitable Life Assurance Society of the United States

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Financial Post acquisition complete

Article Abstract:

Southam Inc. has completed the 100% acquisition of the Financial Post Co. with the purchase in cash of the remaining 20% stake from Pearson PLC of the United Kingdom, publisher of the Financial Times of London. The deal, the value of which was not disclosed, sets Southam on schedule for its Oct. 27, 1998 launching of a new newspaper to be printed and sold across Canada. Southam's earlier purchase of the 80% stake of the Financial Post from Sun Media Corp. had been recently approved by the federal Competition Bureau.

Comment:

Gains 100% ownership of the Financial Post Co with the acquisition of the remaining 20% stake from Pearson PLC of UK

United Kingdom, Canada, Newspapers, Newspaper Publishers, Newspaper publishing, Pearson PLC, Southam Inc.

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Air Canada CEO won't back down in Onex dogfight

Article Abstract:

Air Canada CEO Robert Milton vowed never to surrender in fighting Onex Corp's hostile C$1.8 billion plan to merge the airline with Canadian International Airlines Ltd. Milton accused Onex of being a dummy for American Airlines Inc and blasted the Canadian government for its inconsistent competition policies. While American Airlines will only hold a minority stake under Onex's proposal, it will have a significant control over the merged company's operations through a series of service contracts.

Scheduled Air Transportation, Scheduled Airlines, Air Canada

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