The Vogtle Unit 3, being constructed by primary contactor Westinghouse, a business unit of Toshiba, near Waynesboro, Georgia, U.S. is seen in an aerial photo taken March 2017.  Georgia Power/Handout via REUTERS

Westinghouse reaches deal to resolve bankruptcy: Reuters

Westinghouse Electric Co LLC, Toshiba Corp’s nuclear services business, has made an agreement with its creditors that will clear the company’s path out of bankruptcy, sources told Reuters. The deal will divvy up cash from the US$4.6 billion ($5.7 billion) proposed sale of Westinghouse to Brookfield Business Partners, an affiliate of Canada’s Brookfield Asset Management. As part of the agreement, Toshiba will sell its claims to a group of hedge funds led by the Baupost Group, making the group the biggest creditor in the case, the sources said. The claims sale helps avoid fights among creditors that threatened to slow down the case. Toshiba subsequently confirmed that it had struck a deal with the Baupost-led consortium.

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RNC Minerals in talks to fund battery material mine: Reuters

RNC Minerals is in talks with commodity traders, mine operators and financiers to help secure US$1 billion to build the world’s biggest nickel and cobalt project next year, Reuters reported. A global battery boom, driven by growing demand for electric cars, is pushing prices higher for such key ingredients as nickel and cobalt and encouraging miners to accelerate development plans. Conditions are right to build Dumont in Québec, said RNC. With 3.15 million tonnes of nickel sulphide and 126,000 tonnes of cobalt, it is the largest undeveloped reserve of both metals in the world, the Toronto-based company said. RNC owns 50-percent of Dumont with Canadian mining private equity firm Waterton Global Resource Management holding the remainder.

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CPPIB, Goldman lead $950 mln investment in Peru’s Enfoca: Reuters

Canada Pension Plan Investment Board and Goldman Sachs Asset Management LP led an investment round of more than US$950 million for Enfoca, a Peruvian private equity firm, em>Reuters reported. CPPIB committed US$380 million to the investment. Goldman and three Peruvian pension funds also contributed to the funding. In a release, the parties said the secondary deal gives existing Enfoca limited partners a liquidity option and new limited partners an opportunity to invest in a portfolio of Peruvian mid-market companies. CPPIB’s Michael Woolhouse said the pension fund’s commitment increases its “overall investment in Latin America, one of our strategic focus regions.”