Catlyst Capital Leads Rival Canwest bid

OTTAWA (Reuters) – A second bid for Canwest Global Communications (CGS.V) worth C$120 million ($114 million) was announced on Friday from a consortium led by private equity fund Catalyst Capital and backed by Goldman Sachs Group Inc (GS.N).

The Catalyst consortium, which includes the Asper family and two former executives from Rogers Communications (RCIb.TO), seeks a 32 percent equity interest and voting control in the restructured Canwest under its bid.

The bid will compete with a Feb. 12 offer from Canadian cable and telecom company Shaw Communications Inc (SJRb.TO) for a minimum 20 percent equity stake and 80 percent voting interest. Shaw is expected to seek court approval on Friday for its bid, which one analyst has estimated at C$100 million. ($1=$1.05 Canadian) (Reporting by Susan Taylor)