Lexpert Magazine

Finance + M&A 2025

Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.

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38 www.lexpert.ca Canadian Law Awards Advent International, Philip Fayer, Novacap, and CDPQ's US$6.3 billion joint acquisition of Nuvei Corporation Blake, Cassels & Graydon LLP (for Advent International) Davies Ward Phillips & Vineberg LLP (for Novacap) Fasken Martineau DuMoulin LLP (for Novacap) Stikeman Elliott LLP (for Nuvei) McCarthy Tétrault LLP (for CDPQ) Norton Rose Fulbright Canada LLP (for Special Committee of Nuvei Corporation) Osler, Hoskin & Harcourt LLP (for Philip Fayer) Blackstone Real Estate's $5 billion acquisition of Tricon Residential Davies Ward Phillips & Vineberg LLP (for Blackstone) Goodmans LLP (for Tricon Residential) Osler, Hoskin & Harcourt LLP (for the Special Committee of Tricon Residential) Canadian Natural Resources Limited's US$6.5 billion acquisition of Chevron's Alberta assets Bennett Jones LLP (for Canadian Natural Resources) Osler, Hoskin & Harcourt LLP (for Chevron) Chord Energy and Enerplus $11 billion merger Goodmans LLP (for Chord Energy Corporation) Blake, Cassels & Graydon LLP (for Enerplus) Glencore's $9.93 billion acquisition of Teck Resources Limited Bennett Jones LLP (for Nippon Steel) Blake, Cassels & Graydon LLP (for the Special Committee of the board of directors of Teck Resources Limited) Borden Ladner Gervais (BLG) LLP (for POSCO) Felesky Flynn LLP (for Teck Resources Limited) McCarthy Tétrault LLP (for Glencore plc) Stikeman Elliott LLP (for Teck Resources) Royal Bank of Canada's $13.5 billion acquisition of HSBC Bank Canada Blake, Cassels & Graydon LLP (for Royal Bank of Canada) Miller Thomson LLP (for HSBC Bank Canada board of directors) Stikeman Elliott LLP (for HSBC Global) e M&A Deal of the Year category in 2024 showcases transformative transactions across industries. ese deals set benchmarks for corporate takeovers, energy consolida- tions, and financial institution mergers, demonstrating the evolving complexity of Canada's dealmaking landscape. BMO Capital Markets, alongside intri- cate securities, tax, and governance structuring. This acquisition high- lighted the increasing sophistication of fintech M&A, ensuring Nuvei 's continued growth as a global payments leader under private ownership. CANADIAN LAW FIRM INVOLVEMENT (CLIENT) Valley Resources (EVR), Canada's second- largest exporter of steelmaking coal, with Nippon Steel Corporation and POSCO acquiring minority stakes. e transaction required extensive negotiations, multi- jurisdictional regulatory approvals, and carbon market considerations. McCarthy Tétrault, led by Robert Taplin, represented Glencore. Sean Vanderpol led the Stikeman Elliott team in representing Teck Resources, alongside Felesky Flynn LLP as legal tax advisor and Blakes, led by Jeff Lloyd, for its special committee. Bennett Jones, with a team led by Jon Truswell, Chris Skelton, and Jeff Taylor, represented Nippon Steel. Borden Ladner Gervais LLP acted for POSCO with a team led by Fled Petcher and Prema iele. This acquisition reshaped the global commodities sector, ensuring Teck 's pivot to copper mining while optimizing steelmaking coal assets under Glencore's global portfolio. e US$6.3 billion joint acquisition of Nuvei Corporation by Advent International, Philip Fayer, Novacap, and CDPQ was one of the largest fintech transactions of the year. e complex take-private deal involved equity rollovers from Nuvei CEO Philip Fayer, Novacap, and CDPQ, requiring global antitrust, foreign investment, and payments regulatory approvals across 45 jurisdictions. Warren Katz led the Stikeman Elliott team in representing Nuvei, while Norton Rose Fulbright, led by Steve Malas, repre- sented the special committee. Blakes, led by Catherine Youdan and Shlomi Feiner, advised Advent International, and Fasken lawyers Michel Boislard, Marie-Josée Neveu, Monica Dingle, Kiran Singh, Ralph Aziz, and Damien Hallé-Hannan acted for Novacap alongside Davies. Osler served as Canadian counsel to Philip Fayer with a team that included Raphaël Amram, Mark Brender, and Bastien Gauthier. McCarthy Tétrault acted for CDPQ. The transaction also included a multi- billion-dollar debt financing led by M&A DEAL OF THE YEAR

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