Canadian Storage Partners ULC to buy InStorage REIT for $63 million
Columbia, Mo.-based Canadian Trading Partners ULC, a subsidiary of privately held TKG-StorageMart Group, is a property owner, developer and operator. It launched an offer to acquire the 80.43 percent stake of the Toronto-based InStorage REIT, a real investment trust fund, that it doesn’t own for $3.21 cash, a premium of 123.2 percent.
Seller financial advisor: Brookfield Financial; RBC Capital Markets
Bidder financial advisor: Banc of America Securities; BMO Capital Markets
Seller legal advisor: McCarthy Tetrault
Bidder legal advisor: Davies Ward Phillips & Vineberg; Van Matre, Harrison, Volkert, and Hollis
Ener1 Inc. to buy an 83-percent stake in Enertech International Inc. $55 million
New York City-based Ener1, which develops lithium batteries for hybrid vehicles and fuel cells for various applications, agreed to acquire the stake in Enertech, a privately held Seoul-based lithium-ion battery cell producer, in a deal in which Ener1will issue 5 million new common shares and 2.56 million warrants with a two-year maturity, and exercisable into shares of Ener1 stock at a strike price of $7.50 per warrant and $600,000 in cash.
Seller financial advisor: Not available
Bidder financial advisor: Internal
Seller legal advisor: Not available
Bidder legal advisor: Mazzeo Song