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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment, Market

Temasek plays musical chairs with assets

Posted on 03 December 2008

From Financeasia.com: Singapore Airport Terminal Services (SATS) yesterday announced that it has agreed to buy a 69.68% stake in Singapore Food Industries (SFI) for S$334.5 million ($219 million). The stake is being sold by Ambrosia Investment, a wholly owned subsidiary of Temasek Holdings.

SATS also counts as a Temasek company since it is 80%-owned by Singapore Airlines, which in turn is 54.4% owned by the Singapore investment firm. It is a service provider that offers ground handling and catering services at Singapore’s Changi Airport. Via a number of joint ventures, it provides food services at 40 airports across nine countries….. Full Article: Source


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