Wed, Nov 26, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

CIC doubles Goodman play

Posted on 13 December 2012

China Investment Corporation is expected to more than double its money when it offloads a 6.9 per cent stake in the Goodman Group for $519.2 million, just 3 1/2 years after the sovereign wealth fund first bought into the listed Australian industrial property giant in 2009.
The deal, fully underwritten by investment bank Goldman Sachs, involves 166.7 million securities being sold with a floor price of $4.45, which leaves CIC with a stake of about 9.9 per cent. Morningstar Equities analyst Tony Sherlock said that CIC had picked up the stake “for a song” and made an “amazing return” on its investment………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 15264 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
November 2014
M T W T F S S
« Oct    
 12
3456789
10111213141516
17181920212223
24252627282930