UK/CANADA - The Alberta Investment Management Corp. (Aimco), which manages C$70bn (US$70bn) in assets for Alberta pensions and other institutions, is in negotiations to take over UK-based buy out firm Candover.
In a statement yesterday, Candover said an offer price would not exceed the company's last reported net asset value per share of £10.38 (US$15.77). Candover did not name the potential buyer, but a source familiar with the deal confirmed Aimco was the interested party.
"These discussions may or may not lead to an offer being made," said Candover. "The Board of Directors emphasises that there can be no certainty as to the outcome of such discussions. A further announcement will be made as appropriate."
Officials at Aimco could not immediately be reached for comment.
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Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
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Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers