Dana Gas Acquires Centurion Energy

On January 10, 2007 Dana Gas PJSC successfully completed the acquisition of Centurion Energy International Inc. by way of a plan of arrangement effected under the Business Corporations Act (Alberta). Pursuant to the terms of the acquisition, Giza Acquisition Inc., a subsidiary of Dana Gas, acquired all the issued and outstanding common shares of Centurion Energy for $12 per share, for an aggregate cash consideration of $1.14 billion.

Centurion Energy is an oil and gas exploration and production company based in Calgary, with operations principally located in the Egyptian Nile Delta region. Dana Gas is the first regional private-sector gas company in the Middle East and is listed on the Abu Dhabi Stock Market. The acquisition of Centurion Energy provides Dana Gas with a strategic platform from which to grow its activities in natural gas exploration and production throughout the Middle East Region. Dana Gas's financial advisors were Citigroup Global Markets.

Centurion Energy was represented by Borden Ladner Gervais LLP with a team that included Derrick Armstrong, Edward Tapuska, Gillain Malfair, Shane Stevenson, Robyn Bourgeois and Jonathan Doll (corporate/securities); Lindsay Holmes (tax) and David Madsen (litigation).

Golden Gate Capital Acquires Sierra Systems

On January 5, 2007, Golden Gate Capital, a San Francisco-based private-equity firm, completed its acquisition of Vancouver-based Sierra Systems Group Inc. for an undisclosed amount. The acquisition was completed through a plan of arrangement in which Golden Gate Capital acquired, through its affiliate, Trinity International Holdings Ltd., all the shares of Sierra Systems in an all-cash transaction at a price of $9.25 per share. Financing for the acquisition and for general working capital was provided by Wells Fargo Financial Corporation Canada, as first lien lender, and Styx Partners, L.P., an affiliate of Cerberus Capital Management LP, as second lien lender.

Borden Ladner Gervais LLP acted as Canadian counsel to Golden Gate Capital with a team that included Paul Mingay and Kathleen Keilty (corporate and securities); Howard Silverman and Ken Andersen (banking); Larissa Tkachenko and Eva Krasa (tax); Stephen Antle (litigation); Colleen Spring-Zimmerman (intellectual property) and Adam Fanaki (competition).

Wind Point Partners Acquires Santa Maria Foods

On January 26, 2007 Wind Point Partners VI, L.P., completed the acquisition of all the issued and outstanding shares of Santa Maria Foods Corporation and its affiliates for an undisclosed amount. Wind Point Partners VI, L.P. is a private equity investment firm based in Chicago, Illinois that manages more than $2 billion in commitments from pension funds, endowments and individuals. Santa Maria Foods Corporation is a Toronto-based manufacturer, marketer and distributor of Italian-style deli meats and a leading provider of imported Italian specialty foods.

The senior secured facilities were provided by a syndicate of lenders including The Bank of Nova Scotia as administrative agent, lead arranger and hedge advisor, CIT Financial Limited as syndication agent and GE Canada Financing Holding Company as documentation agent.

The syndicate was represented by Borden Ladner Gervais LLP, whose team included James Mathers, Bill Robertson, Will Wallace, Paul McCarten, Angela Lin, Andrew Collingwood, Claudine Millette, Pierre Cote and others from BLG's Toronto, Montreal, Calgary and Vancouver offices.

GreenField Ethanol Completes $405M Senior Secured Credit Facilities

On December 28, 2006, GreenField Ethanol Inc. (formerly known as Commercial Alcohols Inc.) completed $405 million senior secured credit facilities with a syndicate of lenders in which Royal Bank of Canada and The Bank of Nova Scotia acted as co-lead arrangers and Royal Bank of Canada acted as administrative agent.

The senior credit facilities refinanced GreenField's existing credit facilities and provided additional financing to assist with the completion this month of GreenField's new 140 million litre per year fuel ethanol plant in Varennes, Quebec, with the proposed construction of two new 200 million litre per year fuel ethanol plants in Hensall, Ontario and Johnstown, Ontario, and with other capital projects.

GreenField also completed a $60 million unsecured subordinated financing provided by Fonds de Solidarité des Travailleurs du Québec (F.T.Q.), a Quebec based development capital fund, to assist with the construction of the fuel ethanol plant in Varennes, Quebec.

GreenField was represented by Malcolm West, vice-president, corporate finance, Donald Pierce, executive vice-president, and Brian Keith, vice-president, general counsel and secretary. Borden Ladner Gervais LLP acted as counsel to GreenField with a team led by Andrew Harrison and including Bruce Fowler, Paul McCarten, Glen Bowman, Alfred Page, Janette Pantry, Gus Karantzoulis and Leonard Lee.

Faubourg Boisbriand Acquires Retail Complex

Faubourg Boisbriand Shopping Centre Holdings Inc. acquired "Faubourg Boisbriand," a 1.2 million square foot lifestyle-based retail complex, currently being developed in Boisbriand, Quebec, on July 7, 2006. The purchaser is a venture among Kimco Realty Corporation, Cherokee Partners and Sterling Centrecorp. Acting for the purchaser was Davies Ward Phillips&Vineberg LLP with a team including Hillel Rosen, Joseph Jarjour, Rhonda Rudick (tax) and Nicolas Cloutier (zoning). Acting for the vendor was Yves Dubois of Borden Ladner Gervais LLP.

February 14, 2007 marked the date of the initial drawdown under a $165 million construction credit facility made available to Faubourg Boisbriand Shopping Centre Holdings Inc. by a syndicate of banks consisting of The Bank of Nova Scotia, also as administration agent for the lenders, Royal Bank of Canada, Bank of America National Association and West LB AG, Toronto Branch. A portion of the first drawdown under the loan was used to repay a $43 million interim credit facility made available to the borrowers in the fall of 2006 by HSBC Bank Canada.

Broadcasting Licence Fees Rejected by Federal Court

A decision by Justice Michel Shore of the Federal Court on December 14, 2006 declared that Part II Broadcasting licence fees levied by the CRTC on broadcasters and distributors (Cable and DTH) are in fact illegal taxes and beyond the powers conferred on the CRTC under the Broadcasting Act. As a result of Canadian Association of Broadcasters et al. v. Her Majesty the Queen and Vidéotron Ltée et al. v. Her Majesty the Queen, the broadcasters will no longer have to pay these fees, which, in recent years, have amounted to more than $100 million.

Counsel acting on behalf of Vidéotron Ltée and CF Cable TV Inc. were Daniel Urbas and Carl J. Souquet of Borden Ladner Gervais LLP.