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Acted for the Government of Ontario in the $700 million IPO of Teranet Inc., the Province's electronic land registry system.  Under the terms of a 2003 sale of the Province's half ownership interest to Teramira Holdings Inc., the Province retained the right to participate in the proceeds over an agreed threshold of a Teramira sale of Teranet which resulted in a distribution of $500 million for the Province.  Davies provided corporate, securities and corporate governance advice to the government on its strategic alternatives for Teranet over a two year period and advised the Province in connection with the execution of the IPO.

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2006