Ford, SK On and EcoPro BM Announce C$1.2-Billion Investment in Québec EV Battery Material Production Facilities
Aug. 18, 2023 – Earlier this week, Korea-based EcoPro BM, Ford and SK On announced their C$1.2 billion joint...
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Aug. 18, 2023 – Earlier this week, Korea-based EcoPro BM, Ford and SK On announced their C$1.2 billion joint...
Apr. 20, 2023 – Davies is acting as counsel to BELLUS Health, Inc. in its US$2-billion sale to GSK, a global...
Mar. 17, 2023 – Davies acted as counsel to Lithium Royalty Corp. (LRC) in its C$150-million initial public offering...
Feb. 10, 2023 – Davies secured victories on behalf of Shaw Communications Inc. at both the trial and appellate...
Acted for Mondi plc, a global leader in the production of sustainable packaging and paper, in its acquisition of the Hinton Pulp mill from West Fraser Timber Co. Ltd. (West Fraser) and its long-term partnership with West Fraser to access local, high-quality fibre from well-established wood basket, as well as with Mondi plc’s plans to invest €400 million in the expansion of Hinton.
Acted as tax counsel for Sprott Resource Streaming and Royalty Corp., as lead arranger for its resource lending investment funds, in its holistic financing solution provided to Bunker Hill in respect of its zinc, lead and silver project located in Idaho, U.S. The financing package included a debt facility, convertible debentures, a royalty convertible debenture and a streaming arrangement in respect of the project.
Acted for BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., and a syndicate of agents in a $300 million offering of Metro Inc.’s 4.657% Series K senior unsecured notes due February 7, 2033.
Acted as financing counsel to Lithium Royalty Corp. in establishing a US$25,000,000 revolving credit facility with National Bank of Canada.
Acting for Beanfield Metroconnect, a portfolio company of DigitalBridge, in securing a strategic equity investment from OMERS Infrastructure.
Acted as tax counsel to Foodtastic Inc., a leading franchisor of restaurant brands in Canada, in its C$74.4-million acquisition of Freshii Inc.
Acted for MacKinnon, Bennett & Co. in connection with the C$32-million merger of its portfolio company Bird Canada Inc. with Bird Global, Inc.
Acted for BELLUS Health Inc. in its US$2-billion sale to GSK plc, a British-based pharmaceutical company.
Acted as Canadian counsel to Genstar Capital-backed Numerix LLC, a leader in capital markets risk management technology, in its acquisition of all the issued and outstanding shares of FinancialCAD Corporation.
Acted for Goldman Sachs & Co. LLC on the US$658-million cross-border secondary offering of subordinate voting shares of GFL Environmental Inc.
Acted for Fengate Asset Management Ltd. in the sale of a 75% interest in the 40 MW Grand Valley III wind project in Ontario to Axium Infrastructure.
Acting for Russel Metals Inc. in the C$61-million sale of its 50% equity interest in TriMark Tubulars Ltd. to Marubeni-Itochu.
Acted for Velan Inc., a global leading manufacturer of industrial valves, in its $329-million all-cash sale and privatization by way of plan of arrangement by Flowserve Corporation, one of the world’s leading providers of fluid motion and control products and services.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. in the series 15 offering by CDP Financial of US$500 million of senior notes due in 2025 under its Senior Notes Program
Acting for Lerøy Seafood Group, a seafood production and distribution company based in Bergen, Norway, in defending a proposed Federal Court of Canada class action, which alleges that Lerøy and the other defendants colluded to fix the global and North American supply and prices of salmon.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. in the reopening of the series 15 offering by CDP Financial of US$500 million of senior notes due in 2025 under its Senior Notes Program
Acted for Trinity Industries, Inc., in its acquisition of Holden America, a manufacturer of market-leading multilevel vehicle securement and protection systems, gravity-outlet gates and gate accessories for freight rail in North America, for an initial purchase price of US$70 million and an additional minimum of US$5 million per year for the next two years
Acted for BMS Group in its acquisition of Smith & Reid Insurance Brokers and O’Neil Insurance Brokers.
Acted for Manulife Financial Corporation on the financing of battery energy storage systems to be installed at three existing solar power projects in southern Alberta (Concord’s Coaldale, Monarch and Vulcan properties).
Acting for Hydromega Services Inc. in its sale, including its ownership interests in five hydropower generating stations in Québec and five additional hydropower generating stations in Northeastern Ontario, to FirstLight Power, a wholly owned subsidiary of PSP Investments and a leading clean power producer, developer and energy storage company.
Acting for the Insolvency Institute of Canada as an intervenor before the Supreme Court of Canada in Aquino v. Ernst & Young Inc. and Scott v. Doyle Salewski Inc., two cases raising important questions about corporate attribution and set-off in the insolvency context.
Acted for Fortis Inc. in establishing its at-the-market public offering of up to C$500-million of common shares, which may be sold through the Toronto Stock Exchange, the New York Stock Exchange or on any other marketplace in Canada or the United States on which the common shares are traded.
Acted for Cordis-X, the lead investor in the C$34-million Series A funding round by Puzzle Medical Devices Inc., a medical device company specializing in the development of a minimally invasive long-term hemodynamic transcatheter pump.
Successfully acted for Shaw Communications Inc. in a landmark trial before the Competition Tribunal and subsequent appeal before the Federal Court of Appeal challenging the company’s C$26-billion merger with Rogers Communications Inc. This was the largest case ever heard by the Tribunal and the first pre-closing merger challenge to go to trial before the Tribunal. This case won Commercial Litigation Team of the Year at the 2023 Canadian Law Awards.
Acted as tax counsel to Sprott Resource Lending Corp., as lead arranger for its resource lending investment funds, in the US$150-million financing of Foran Mining Corporation’s McIvenna Bay project in east-central Saskatchewan.
Acting for National Beef Packing Company in antitrust class actions commenced in Québec and British Columbia alleging a supply and price-fixing conspiracy in respect of cattle and beef.
Acted as Canadian counsel to the initial purchasers, led by BofA Securities, in the add-on private placement of US$125 million of senior secured notes of a Canadian private issuer.
Acted for Claridge IC Properties 3, Limited Partnership in the acquisition of a property in the City of Dorval, and its related acquisition financing and development thereon of approximately 255 residential rental units and ancillary commercial property, in a joint venture with Pur Immobilia, Oktodev, Endévco and Palomino Capital.
Acted for Fengate Asset Management Ltd. in the sale of the 72.6 MW Weaver wind project in Hancock County, Maine, United States to Greenbacker Renewable Energy.
Acted for The Canada Life Assurance Company in the establishment of credit facilities to finance the operations of Intragas Limited Partnership.
Acted for Alimentation Couche-Tard Inc. both in its acquisition of Cape D’Or Holdings Limited and Barrington Terminals Limited, which operate an independent convenience store and fuel network in Atlantic Canada under the Esso, Wilsons Gas Stops and Go! Store brands, and in connection with obtaining the Canadian Competition Bureau’s approval for the transaction. Also acted for Alimentation Couche-Tard Inc. in the divestiture of 52 retail and fuel locations to Harnois Énergies.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. in the series 13 offering by CDP Financial of C$1.25 billion of senior notes due in 2028 under its Senior Notes Program.
Acting for a real estate joint venture before the Court of Québec in a tax dispute against Revenu Québec with respect to the characterization of tenant inducement payments.
Acted for WideOrbit, Inc., a California-based media vertical software provider, in its sale to Constellation Software Inc. and its subsidiary Lumine Group Inc., and the related spin-out of the combined Lumine Group Inc. as a new public company listed on the TSX-V.
Acted for Integrated Media Company, a TPG platform dedicated to the new media ecosystem, in its C$147.5-million acquisition of Toon Boom Animation Inc., an Emmy® Award-winning Montreal-based animation software company, from Nelvana Limited, a subsidiary of Corus Entertainment Inc.
Acted for co-investors MacKinnon, Bennett & Co. and Idealist Capital in their growth capital equity investment in XNRGY Climate Systems, a leader in the design and manufacturing of energy efficient commercial HVAC systems.
Acted for Lakeside Book Company, a portfolio company of Atlas Holdings, in its acquisition of Marquis Books.
Acted for Newmont Mining Corporation, Fronteer Gold Inc. and its founder Mark O’Dea in a successful defence against a claim for over C$1.2 billion in damages and other relief asserted by Jacqui Safra and his holding company, NWG Investments Inc. Safra alleged fraud and misrepresentation concerning a transaction in which Fronteer acquired a mineral exploration company he founded and controlled. Safra’s claim was commenced after the newly formed Government of Nunatsiavut imposed a moratorium on uranium mining in April 2008. Justice Steele of the Superior Court of Ontario dismissed the claim on the grounds of delay in August 2023.
Acted for Metropolitan Life Insurance Company, CIBC World Markets Inc., TD Securities Inc. BMO Nesbitt Burns Inc. and Scotia Capital Inc. in the Canadian private placement of C$1 billion of floating-rate and fixed-rate notes by Metropolitan Life Global Funding I, a special purpose statutory trust organized under Delaware law, secured by a funding agreements issued by Metropolitan Life Insurance Company.
Acting for OMERS Administration Corporation in its US$200-million acquisition of 54.5% stake of global royalties on MAVYRET, from Enanta Pharmaceruticals, Inc.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. with the series 16 offering by CDP Financial of US$1.5 billion of senior notes due in 2028 under its Senior Notes Program.
Acted for DIF Capital Partners, through its DIF Core Infrastructure Fund III (DIF CIF III), in its investment in RFNow Inc., an independent enterprise fiber, residential fiber, fixed wireless internet and phone services provider in Manitoba and Saskatchewan.
Acted for Alaris Equity Partners, in its US$546-million investment with Brookfield Special Investments, in Body Contour Centers LLC.
Acted for MacKinnon, Bennett & Co. in the sale of its C$52-million stake in Miovision, a leading provider of intelligent transportation solutions, to TELUS Ventures.
Acted as tax counsel for Sprott Resource Streaming and Royalty Corp., as lead arranger for its resource lending investment funds, in its streaming transaction with Cerrado Gold Inc. regarding gold and silver produced by its Monte do Carmo project in Brazil.
Acted for a special committee of independent trustees of Centurion Apartment Real Estate Investment Trust, a private, unlisted REIT with over $6.5 billion in assets, with restructuring of the REIT’s asset management agreement and related arrangements with its external asset manager, Centurion Asset Management Inc.
Acted for Black Swan Graphene Inc., which produces patented low-cost and high-performance graphene powders, in its strategic partnership with Nationwide Engineering Research and Development Ltd, the developer of a graphene-enhanced admixture for concrete, Concretene.
Acted as Canadian counsel to Nasdaq-listed Shockwave Medical, Inc., in its acquisition of Nasdaq- and TSX-listed British Columbia–based Neovasc Inc., for a total transaction value of up to US$147 million consisting of a purchase price per share of cash and a contingent value right.
Acted as tax counsel for Sprott Resource Streaming and Royalty Corp., as lead arranger for its resource lending investment funds, in its US$110-million streaming transaction with Ascot Resources Ltd. regarding the Premier Gold Project located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia.
Acting for Copper Mountain Mining Corporation in connection with its US$439-million all-share acquisition by Hudbay Minerals Inc. by way of a court approved plan of arrangement.
Acted as lead transaction and tax counsel to Apotex Pharmaceutical Holdings Inc., a global pharmaceutical company that produces high-quality affordable medicine, in its sale to SK Capital Partners.
Acted for Valley Fiber, a portfolio company of DIF Capital, with the establishment of credit facilities by a syndicate of lenders led by National Bank of Canada.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. in the series 14 offering by CDP Financial of AUD$300 million of senior notes due in 2030 under its Senior Notes Program
Acted for DigitalBridge, a global digital infrastructure investment firm, in its portfolio company Aptum Technologies’ acquisition of CloudOps, a cloud consulting, managed services and software company.
Acted for Atlas Holdings LLC in its acquisition of Resolute FP Canada Inc.'s pulp, newsprint, and directory paper mill operations in Thunder Bay, Ontario.
Acted for Green V B.V. in its acquisition of JV Energy Solutions Inc., a provider of customer-specific heating, electrical engineering and insulation for the greenhouse horticulture industry.
Acted for HID Global, a subsidiary of Swedish conglomerate Assa Abloy, in its acquisition of Vancouver-based Guard RFID Solutions, a manufacturer of real-time location systems used in healthcare environments.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. with the reopening of the series 15 offering by CDP Financial of US$350 million of senior notes due in 2025 under its Senior Notes Program.
Acting for IOU Financial Inc., a corporation listed on the TSX-V, in its sale to 9494-3677 Québec Inc., a corporation created by a group composed of funds managed by Neuberger Berman, Palos Capital and Fintech Ventures, for an all-cash consideration.
Acted for Barrick Gold Corporation to establish a base shelf prospectus qualifying up to US$4 billion of securities in Canada and the United States under the multijurisdictional disclosure system.
Acted as tax counsel to Sprott Resource Lending Corp., as lead arranger for its resource lending investment funds, in the financing of Metals Acquisition Corp’s US$1.1-billion acquisition of Glencore’s CSA copper mine in New South Wales, Australia.
Acted for an affiliate of Lithium Royalty Corp. in its purchase of a net smelter returns royalty involving the Mariana Lithium Project in Argentina from TNR Gold Corp.
Acted as Canadian counsel to Arcline Investment Management in its acquisition of International Water-Guard, a leading provider and servicer of proprietary potable water systems and components for use in business and commercial jet applications.
Successfully defended Continental Casualty Company (CNA) in the Ontario Superior Court of Justice in a class action in which billions of dollars of claims were asserted by or on behalf of thousands of businesses throughout Canada for business interruption coverage arising from the COVID-19 pandemic. This matter was decided by Justice Penny of the Commercial List in early June 2023 in favour of CNA and other insurers following a multi-week common issues trial. This is the first case to determine authoritatively at trial in Canada that the SARS-CoV-2 virus does not cause “physical loss or damage to property”, and that mere loss of use of property resulting from the COVID-19 pandemic does not trigger coverage under ordinary commercial property insurance policies.
Acted for Mountaingate Capital Management II, L.P. in its strategic investment in Bond Brand Loyalty Group, a leading marketing, customer experience and loyalty software management group.
Acted for Rogers Communications Inc. to establish its U.S. registration statement, registering up to US$8 billion of future public offerings of debt securities and preferred shares in the United States pursuant to the multijurisdictional disclosure system.
Acting for Korea-based EcoPro BM in its C$1.2-billion joint venture with Ford and SK On to build a cathode manufacturing facility to produce electric vehicle (EVs) battery materials in Bécancour, Quebec.
Acts as regulatory counsel to PSP Investments in the structuring of all its worldwide investments to ensure compliance with the PSPIB Act and Regulations, as well as advising PSP Investments on governance and other commercial and regulatory matters.
Acted for Lithium Royalty Corp. in its C$150-million initial public offering of common shares underwritten by a syndicate co-led by Canaccord Genuity Corp and Citigroup Global Markets Canada Inc.
Acted as tax counsel for Sprott Resource Streaming and Royalty Corp., as lead arranger for its resource lending investment funds, in its acquisition of a secured note convertible into a gross revenue royalty of 4.75% of the gold and silver produced by Paramount Gold Nevada Corp.’s Grassy Mountain gold mine in eastern Oregon.
Acted for the special committee of the board of directors of Canaccord Genuity Group Inc. in connection with management’s proposed takeover bid for the common shares of Canaccord.
Acted for U.S. activist shareholder Legion Partners Asset Management in connection with its campaign for operational change and board seats on the board of Primo Water Corporation, a TSX-NYSE listed pure-play water solutions provider in North America and Europe. Legion’s campaign included the commencement by Legion of an oppression Application in the Superior Court of Ontario concerning the legality of Primo’s Advance Notice By-Laws. It culminated in an agreement to appoint two Legion nominees to the Primo board and Primo agreeing to adopt certain corporate governance enhancements, including changes to its advance notice bylaw provisions.
Acted for Twin Rivers Paper Company Inc., a portfolio company of Atlas Holdings, LLC, in the sale of Plaster Rock Lumber Corporation, operator of softwood lumber mill, to Groupe Lebel, an Eastern Canada lumber manufacturer and North American forest products leader.
Acted for Barrick Gold Corporation in connection with its joint venture with Ma’aden over copper exploration projects in Saudi Arabia.
Acting for Coriel Capital Inc., a women-owned ultra-high-net-worth wealth management firm based in Montreal, in its sale to CI Financial Group.
Acted as Canadian counsel for Rogers Communications Inc. in its offer to exchange any and all of its outstanding US$7.05 billion senior notes previously issued under a private placement for an equal principal amount of new notes with substantially identical terms that are registered under the U.S. Securities Act of 1933.
Acted as Canadian counsel to the initial purchasers, led by BofA Securities, in the follow-on private placement of US$500 million of senior secured notes of a Canadian private issuer.
Acted for Ironbridge Equity Partners in its acquisition (and related financing) of the Gesco Group of Companies, a leading specialty distributor of floor covering solutions across Canada, pursuant to a sale proceeding conducted under the Companies' Creditors Arrangement Act.
Acted for a syndicate of agents co-led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. in the $500 million public offering of medium-term notes by 407 International Inc.
Acted for Sprott Inc. in the formation of Sprott Private Resource Streaming and Royalty Annex Fund, a US$310-million annex fund that invests alongside Sprott’s first streaming fund, which brings the combined total assets under management of Sprott Resource Streaming and Royalty Corp. in both funds to US$1.1 billion.
Acted for Axium Infrastructure Inc. in connection with the acquisition from Copenhagen Infrastructure Partners of the Travers Solar Project located in Vulcan County, Alberta. Situated on approximately 3,330 acres of land, the project has a total nameplate capacity of 465 MW, making it the largest solar project in Canada at the time of closing.
Acted for the shareholders, including Desjardins Capital, Anges Québec capital and a large group of angel investors, of Interactive Validated Solutions 88 Inc., a company specializing in SaaS quality, compliance and traceability solutions, in its sale to TradeBeyond, a Hong Kong based leading supply chain platform.
Acting as counsel to Gotham Green Partners, LLC in defence of a petition seeking to unwind the debt restructuring transaction of iAnthus Capital Holdings Inc.
Acted for TotalEnergies EP Canada Ltd., a subsidiary of TotalEnergies SE, in connection with its acquisition of an additional 6.65% working interest in the Fort Hills oils sands project located approximately 90 km north of Fort McMurray, Alberta.
Acted as tax counsel for Sprott Resource Streaming and Royalty Corp., as lead arranger for its resource lending investment funds, in its acquisition of a secured note convertible into a streaming arrangement in respect of the gold produced by Theta Gold Mines Ltd.’s TGME Gold Project in South Africa.
Acted for Kroll, the independent financial advisor to Hut 8, in connection with its merger with U.S. Data Mining Group, Inc. doing business as US Bitcoin Corp, to establish “New Hut”, a large scale, publicly traded Bitcoin miner.
Acting for Tenneco, in its capacity as a large customer in the receivership of UTIL Canada under the Bankruptcy and Insolvency Act.
Acting for Atlas Holdings in its acquisition of West Fraser Timber Co. Ltd.'s Quesnel River pulp mill in British Columbia and Slave Lake pulp mill in Alberta, addressing issues including landfill management and fibre access.
Acted for Aecon Group Inc. in the sale of its Aecon Transportation East roadbuilding, aggregates and materials business in Ontario to Green Infrastructure Partners Inc. for C$235 million in cash.
Acted for the shareholders of Ecometrica Limited, a leading EHS and ESG software provider, in the sale of their 100% interest to EcoOnline UK Limited.
Advising the Canadian Women's National Team in their high-profile dispute against the national federation, Canada Soccer, for fair treatment and wages.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. in the reopening of the series 13 offering by CDP Financial of C$750 million of senior notes due in 2028 under its Senior Notes Program
Acted for Industrial and Financial Systems AB in its acquisition of Poka Inc., a Québec-based provider of connected worker platform software.
Acted for a syndicate of lenders led by Bank of Montreal in connection with the refinancing of certain credit facilities made available to BluEarth Renewables.
Acted for Plusgrade Inc. in its purchase of all the issued and outstanding shares of Israel-based technology and hospitality company, Ancillary Streams Ltd., a global software provider of upgrade solutions to hotels, known as “UpStay.”
Acted for Fengate Asset Management Ltd. in the C$50.2-million sale of 60 MW Sault Ste. Marie solar portfolio located in northwestern Ontario to Innergex Renewable Energy Inc.
Acted for Sleep Country Canada Holdings Inc. in its acquisition of the Canadian assets of Casper Sleep Inc.
Acted for New York Life Insurance Company in the Canadian private placement of C$1.05 billion of floating-rate and fixed-rate notes by New York Life Global Funding, a special purpose statutory trust organized under Delaware law, secured by a funding agreements issued by New York Life Insurance Company.
Acting as Canadian counsel to LKQ Corporation in its C$2.8-billion acquisition of Uni-Select Inc.
Acted for Caisse de dépôt et placement du Québec and CDP Financial Inc. with an offering by CDP Financial of USD$2 billion of senior notes under its Senior Notes Program.
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