Latest news with #WEF
Yahoo
10 hours ago
- Business
- Yahoo
Waterous Energy Fund Announces Purchase of Subscription Receipts of Strathcona Resources Ltd.
CALGARY, Alberta, June 27, 2025--(BUSINESS WIRE)--Waterous Energy Fund Management Corp. (the "WEF Manager"), in its capacity as manager of Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund III (International FI) LP (collectively, the "WEF Receiptholders") and as manager of certain other limited partnerships, including but not limited to, Waterous Energy Fund (Canadian) LP, Waterous Energy Fund (US) LP, Waterous Energy Fund (International) LP and Waterous Energy Fund II Aggregator LP (together with the WEF Receiptholders and certain other entities managed by the WEF Manager, the "WEF Funds"), today announced that on June 27, 2025 the WEF Receiptholders have purchased 21,400,000 subscription receipts (the "Subscription Receipt") of Strathcona Resources Ltd. (TSX: SCR) (the "Issuer"), at a price of $30.92 per Subscription Receipt, for an aggregate purchase price of $661,688,000.00 (the "Investment"). Immediately prior to the completion of the Investment, the WEF Funds collectively owned an aggregate of 170,536,718 common shares of the Issuer (the "Common Shares"), representing approximately 79.6% of the issued and outstanding Common Shares. Following the completion of the Investment, the WEF Funds collectively own an aggregate of 170,536,718 Common Shares, representing approximately 79.6% of the issued and outstanding Common Shares, and 21,400,000 Subscription Receipts, representing all of the issued and outstanding Subscription Receipts. The Subscription Receipts were purchased and are being held by the WEF Receiptholders for investment purposes and in connection with the Issuer's proposed acquisition of all of the issued and outstanding common shares of MEG Energy Corp. (TSX: MEG) not already owned by the Issuer or its affiliates, by way of a formal take-over bid (the "Offer"). The proceeds from the Investment will be used to partially fund the cash consideration payable by the Issuer under the Offer. The completion of the Offer remains subject to the satisfaction of customary conditions, including obtaining all required regulatory and stock exchange approvals. The applicable WEF Funds hold the Common Shares for investment purposes. The WEF Funds may, depending on market and other conditions and subject to applicable securities laws, change their beneficial ownership of the Subscription Receipts and/or the Common Shares, whether in the open market (solely with respect to the Common Shares), by privately negotiated agreements, or otherwise. Any transaction that any WEF Fund may pursue may be made at any time and from time to time without prior notice and will depend on a variety of factors, including, without limitation, the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, its business and prospects, other investment and business opportunities available to the WEF Funds, general industry and economic conditions, the securities markets in general, tax considerations and other factors deemed relevant by the WEF Funds. Notwithstanding the foregoing, the WEF Funds and/or any of their affiliates may take such actions with respect to their investment in the Issuer as they deem appropriate, including developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of Form 62-103F1 – Required Disclosure Under the Early Warning Requirements. This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The WEF Receiptholders will file an early warning report with the applicable securities commission in each jurisdiction where the Issuer is a reporting issuer and will be available on the SEDAR+ profile of the Issuer at A copy of the early warning report may also be obtained by contacting Waterous Energy Fund's Chief Executive Officer at 403-930-6048 or info@ The head office of the Issuer is located at 1900, 421 – 7th Avenue SW, Calgary, Alberta T2P 4K9. The head office of the WEF Manager and the WEF Funds is located at 600, 301 – 8th Avenue SW, Calgary, Alberta T2P 1C5. View source version on Contacts info@ 403-930-6048 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
10 hours ago
- Business
- Business Wire
Waterous Energy Fund Announces Purchase of Subscription Receipts of Strathcona Resources Ltd.
CALGARY, Alberta--(BUSINESS WIRE)--Waterous Energy Fund Management Corp. (the " WEF Manager"), in its capacity as manager of Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund III (International FI) LP (collectively, the " WEF Receiptholders") and as manager of certain other limited partnerships, including but not limited to, Waterous Energy Fund (Canadian) LP, Waterous Energy Fund (US) LP, Waterous Energy Fund (International) LP and Waterous Energy Fund II Aggregator LP (together with the WEF Receiptholders and certain other entities managed by the WEF Manager, the " WEF Funds"), today announced that on June 27, 2025 the WEF Receiptholders have purchased 21,400,000 subscription receipts (the " Subscription Receipt") of Strathcona Resources Ltd. (TSX: SCR) (the " Issuer"), at a price of $30.92 per Subscription Receipt, for an aggregate purchase price of $661,688,000.00 (the " Investment"). Immediately prior to the completion of the Investment, the WEF Funds collectively owned an aggregate of 170,536,718 common shares of the Issuer (the " Common Shares"), representing approximately 79.6% of the issued and outstanding Common Shares. Following the completion of the Investment, the WEF Funds collectively own an aggregate of 170,536,718 Common Shares, representing approximately 79.6% of the issued and outstanding Common Shares, and 21,400,000 Subscription Receipts, representing all of the issued and outstanding Subscription Receipts. The Subscription Receipts were purchased and are being held by the WEF Receiptholders for investment purposes and in connection with the Issuer's proposed acquisition of all of the issued and outstanding common shares of MEG Energy Corp. (TSX: MEG) not already owned by the Issuer or its affiliates, by way of a formal take-over bid (the " Offer"). The proceeds from the Investment will be used to partially fund the cash consideration payable by the Issuer under the Offer. The completion of the Offer remains subject to the satisfaction of customary conditions, including obtaining all required regulatory and stock exchange approvals. The applicable WEF Funds hold the Common Shares for investment purposes. The WEF Funds may, depending on market and other conditions and subject to applicable securities laws, change their beneficial ownership of the Subscription Receipts and/or the Common Shares, whether in the open market (solely with respect to the Common Shares), by privately negotiated agreements, or otherwise. Any transaction that any WEF Fund may pursue may be made at any time and from time to time without prior notice and will depend on a variety of factors, including, without limitation, the price and availability of the Issuer's securities, subsequent developments affecting the Issuer, its business and prospects, other investment and business opportunities available to the WEF Funds, general industry and economic conditions, the securities markets in general, tax considerations and other factors deemed relevant by the WEF Funds. Notwithstanding the foregoing, the WEF Funds and/or any of their affiliates may take such actions with respect to their investment in the Issuer as they deem appropriate, including developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of Form 62-103F1 – Required Disclosure Under the Early Warning Requirements. This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The WEF Receiptholders will file an early warning report with the applicable securities commission in each jurisdiction where the Issuer is a reporting issuer and will be available on the SEDAR+ profile of the Issuer at A copy of the early warning report may also be obtained by contacting Waterous Energy Fund's Chief Executive Officer at 403-930-6048 or info@ The head office of the Issuer is located at 1900, 421 – 7th Avenue SW, Calgary, Alberta T2P 4K9. The head office of the WEF Manager and the WEF Funds is located at 600, 301 – 8th Avenue SW, Calgary, Alberta T2P 1C5.
India Today
13 hours ago
- Business
- India Today
Why is India in the bottom 20 when it comes to gender gap?
India has once again slipped in the global race for gender equality. In the 2025 Global Gender Gap Report released by the World Economic Forum, India ranks 131st out of 148 countries, a fall from last year's 129th spot. The drop comes despite a marginal improvement in India's overall gender parity score, a clear signal that other countries are moving much more worrying is that even within South Asia, India trails behind its neighbours: Bangladesh (rank 24), Bhutan (rank 119), Nepal (rank 125), and Sri Lanka (rank 130). With 64.4 per cent of its gender gap closed, India falls below the global average of 68.8 per cent and the South Asia regional average of 64.6 per cent. First introduced in 2006, the WEF gender gap index tracks gender gaps across four dimensions: economic participation, educational attainment, health and survival, and political empowerment. India's performance is mixed, with education and health improving but political and economic indicators dragging down the 2025 index shows that no economy has yet achieved full gender parity. Iceland, with a score of 92.6 per cent, has held the top position for 16 consecutive years now, and remains the only economy to have closed more than 90 per cent of its gender gap since gains, economic stagnationadvertisementThere's been real progress in education. India has achieved 97.1 parity in educational attainment and ranks 110th in that category. Girls are going to school and enrolling in colleges at nearly the same rate as boys. In fact, women now make up a majority of graduates in several urban universities. Despite that, the achievement does not translate into jobs or promotions. The boardrooms remain out of reach. Health outcomes have slightly improved, with a better sex ratio at birth and increased life expectancy for women. However, India still ranks low at 143rd on this being the world's fastest-growing major economy, India remains one of the worst performers globally on gender parity in economic participation and opportunity, ranking 144th, ahead of a handful of crisis-ridden nations like Sudan, Pakistan, Women in the Workplace 2025 report found that only one in three hires at the junior level in Indian companies was a woman. As they moved up the ladder, the number of women dropped sharply. The report noted that just 18.2 per cent of board positions in corporate India were held by a growing gap between what women are qualified to do and what they're allowed to do. The WEF report backs this up. India's score on economic participation improved slightly, from 39.8 per cent in 2024 to 40.7 per cent in 2025, thanks to a rise in women's estimated earned income. But even now, Indian women earn about one-third less than men for the same work. And female workforce participation remains dismally women in poweradvertisementEven more worrying is the drop in political representation score, and it is the only subindex to do so this year. The number of women in Parliament fell from 14.7 to 13.8 per cent, and the share of women ministers dropped to 5.6 per cent, down from 6.5 per cent last year. These numbers take India further from its 30 per cent peak in 2019. In short, fewer women are in power today than a year ago.- Ends
DW
19 hours ago
- Automotive
- DW
China's faltering economy in focus of WEF Tianjin meeting – DW – 06/27/2025
The world's second-largest economy is suffering from weak household consumption, and its auto industry is particularly vulnerable. Manuela Kasper-Claridge reports from the "Summer Davos" in Tianjin. "Even if we only walk, we are faster than others," says Sun as he laughs mischievously. He is using the run-walk imagery to describe the state of the Chinese economy compared to its competitors. The businessman had been doing well selling real estate in China. Still, he doesn't want to see his full name published because his business is currently not doing well. There are vacant properties all over, and many apartments are just too expensive. What about the future, what's next? Sun shrugs, suggesting that everything will turn out fine. The salesman in his fifties is hoping for some innovative signs from the government. Chinese Prime Minister Li Qiang is as optimistic as ever. He is speaking at the "Summer Davos 2025" conference in Tianjin, organized by the Switzerland-based World Economic Forum (WEF) and officially called the Annual Meeting of the New Champions. Around 1,700 participants from all over the world have traveled to the northern Chinese city and are listening with hope. China reported economic growth of 5.5% in the first quarter of this year. The second quarter also looks good, according to the Chinese premier. But many in China view the government's optimism with skepticism and prefer to save rather than spend their money right now. Walking through large shopping centers in Tianjin, it is impossible not to notice the nearly empty stores. Demand for watches, jewelry and designer handbags is low, and customers are few and far between. In the stylish showrooms of Chinese car manufacturers, most of the salespeople look bored as they stare at their mobile phones. The latest NIO electric car sits alone in its showroom. With no customers in sight, it doesn't look like anyone wants to give it a test drive. Even at a nearby hair salon, little is happening on a normal weekday. There are four stylists, but not a single customer. The lack of spending at home is hitting Chinese automakers particularly hard. Competition for market share is fierce, and because of that prices are in a free fall in some cases. Some brand-new vehicles are being sold at used-car prices, a practice called "zero mileage." "It is good for the consumers, they are getting cars at very reduced prices and get very advanced, competitive cars," says Killian Aviles, head of Asia Pacific Region for Dekra Group, a vehicle testing and inspecting company that is still doing good business in China with testing and consulting for the automotive industry. "At the same time the profit margins that the companies have, have been eroded," Aviles told DW. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Consolidation seems inevitable, and Aviles is not the only one who is convinced of this. "Only the strongest and healthiest will survive," he said. China could try and ease the situation by exporting more vehicles to Europe, but that would depend a lot on whether the Europeans allow such imports and do not further increase tariffs. Yet, a lot of experts don't think the Chinese economy's strong dependence on exports is a viable model for the future. "China actually realizes that the export-led growth era is over and, of course, it is still struggling with over-investment and excess production," says Diana Choyleva, a senior fellow at the Asia Society Policy Institute's Center for China Analysis. Choyleva, who specializes on China's economy and politics, is convinced that domestic consumption must increase to keep the economy going. At the same time, China wants to become a global market leader in as many industries as possible, and visitors are proudly shown select companies around Tianjin. The city is home to one of the world's busiest ports and is focusing on technology like robotics, among other things. One such company is the Siasun Robot factory, which uses the advertising slogan "Making the world better by Robotics." The company sells its industrial robots in 40 countries around the world, and its product range also includes robots used in the nuclear industry. However, its latest models aren't on display. Instead, they are only showing off standard machines like those used by the automotive industry. Still, the growth potential is enormous, a company production manager told DW. "Soon the robots will be building robots themselves," he enthuses. "Where will the people be then?" he asks rhetorically without answering. On the banks of the Hai River, which flows through Tianjin, many Chinese sit and enjoy picnics. Families with children, the elderly, and many young people are there, too. Some are dancing. At the same time, many restaurants around town are half-empty just like the shopping malls and showrooms earlier in the day. Perhaps the restaurants are just too expensive. Or perhaps right now many Chinese consumers would rather save their money for a rainy day. Whatever it is, their homemade food is likely just as tasty as anything they would get in a sit-down restaurant.
DW
19 hours ago
- Automotive
- DW
China's falterung economy in focus of WEF Tianjin meeting – DW – 06/27/2025
The world's second-largest economy is suffering from weak household consumption, and its auto industry is particularly vulnerable. Manuela Kasper-Claridge reports from the "Summer Davos" in Tianjin. "Even if we only walk, we are faster than others," says Sun as he laughs mischievously. He is using the run-walk imagery to describe the state of the Chinese economy compared to its competitors. The businessman had been doing well selling real estate in China. Still, he doesn't want to see his full name published because his business is currently not doing well. There are vacant properties all over, and many apartments are just too expensive. What about the future, what's next? Sun shrugs, suggesting that everything will turn out fine. The salesman in his fifties is hoping for some innovative signs from the government. Chinese Prime Minister Li Qiang is as optimistic as ever. He is speaking at the "Summer Davos 2025" conference in Tianjin, organized by the Switzerland-based World Economic Forum (WEF) and officially called the Annual Meeting of the New Champions. Around 1,700 participants from all over the world have traveled to the northern Chinese city and are listening with hope. China reported economic growth of 5.5% in the first quarter of this year. The second quarter also looks good, according to the Chinese premier. But many in China view the government's optimism with skepticism and prefer to save rather than spend their money right now. Walking through large shopping centers in Tianjin, it is impossible not to notice the nearly empty stores. Demand for watches, jewelry and designer handbags is low, and customers are few and far between. In the stylish showrooms of Chinese car manufacturers, most of the salespeople look bored as they stare at their mobile phones. The latest NIO electric car sits alone in its showroom. With no customers in sight, it doesn't look like anyone wants to give it a test drive. Even at a nearby hair salon, little is happening on a normal weekday. There are four stylists, but not a single customer. The lack of spending at home is hitting Chinese automakers particularly hard. Competition for market share is fierce, and because of that prices are in a free fall in some cases. Some brand-new vehicles are being sold at used-car prices, a practice called "zero mileage." "It is good for the consumers, they are getting cars at very reduced prices and get very advanced, competitive cars," says Killian Aviles, head of Asia Pacific Region for Dekra Group, a vehicle testing and inspecting company that is still doing good business in China with testing and consulting for the automotive industry. "At the same time the profit margins that the companies have, have been eroded," Aviles told DW. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Consolidation seems inevitable, and Aviles is not the only one who is convinced of this. "Only the strongest and healthiest will survive," he said. China could try and ease the situation by exporting more vehicles to Europe, but that would depend a lot on whether the Europeans allow such imports and do not further increase tariffs. Yet, a lot of experts don't think the Chinese economy's strong dependence on exports is a viable model for the future. "China actually realizes that the export-led growth era is over and, of course, it is still struggling with over-investment and excess production," says Diana Choyleva, a senior fellow at the Asia Society Policy Institute's Center for China Analysis. Choyleva, who specializes on China's economy and politics, is convinced that domestic consumption must increase to keep the economy going. At the same time, China wants to become a global market leader in as many industries as possible, and visitors are proudly shown select companies around Tianjin. The city is home to one of the world's busiest ports and is focusing on technology like robotics, among other things. One such company is the Siasun Robot factory, which uses the advertising slogan "Making the world better by Robotics." The company sells its industrial robots in 40 countries around the world, and its product range also includes robots used in the nuclear industry. However, its latest models aren't on display. Instead, they are only showing off standard machines like those used by the automotive industry. Still, the growth potential is enormous, a company production manager told DW. "Soon the robots will be building robots themselves," he enthuses. "Where will the people be then?" he asks rhetorically without answering. On the banks of the Hai River, which flows through Tianjin, many Chinese sit and enjoy picnics. Families with children, the elderly, and many young people are there, too. Some are dancing. At the same time, many restaurants around town are half-empty just like the shopping malls and showrooms earlier in the day. Perhaps the restaurants are just too expensive. Or perhaps right now many Chinese consumers would rather save their money for a rainy day. Whatever it is, their homemade food is likely just as tasty as anything they would get in a sit-down restaurant.
