Paul Desmarais III, scion of one of Canada’s richest families, is pitching a tent in the snow. Timothy Hodgson, a former Goldman Sachs Group Inc. banker, is juggling balls with soldiers in a team-building exercise, while the head of Barclays Plc in Canada struggles to snowshoe dragging a 25-pound sled.
Groupe Bruxelles Lambert SA , the Belgian investment firm controlled by billionaires Albert Frere and Paul Desmarais , reported profit dropped because of costs for unwinding derivatives and said Ian Gallienne and Gerard Lamarche will join the three-member executive management next year.
Groupe Bruxelles Lambert SA , the Belgian investment firm controlled by billionaires Albert Frere and Paul Desmarais , will take over Pargesa Holding SA’s stake in Imerys SA to eliminate debt at the level of its Swiss parent.
Labco SA, a medical-diagnostics company whose investors include 3i Group Plc, has drawn preliminary bids from private equity groups Blackstone Group LP and PAI Partners SAS, said people with knowledge of the matter.
Groupe Bruxelles Lambert SA, the investment firm controlled by billionaires Albert Frere and Paul Desmarais, increased its distribution of cash earnings to the highest level in 10 years after a 50 percent reduction in dividend income from Lafarge SA and higher debt-servicing costs.
Great-West Lifeco Inc.’s C$1.75 billion ($1.72 billion) agreement to buy Irish Life Group Ltd. signals a return to growth for the Canadian insurance industry that has spent years since the financial crisis seeking to contain damage from plunging stock prices.