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Sovereign Wealth Funds Briefing 25.Jun 2009

Posted on 25 June 2009 by VRS |  Email |Print

From Linexlegal.com: In recent years, sovereign wealth funds (SWFs) have grabbed the international spotlight, igniting intense debate. Sensing the difficult political terrain that they must navigate, such funds have generally adopted a low profile.
And by offering attractive financing terms and generally taking passive minority positions in the companies in which they invest, they have been a desirable source of capital for distressed companies…….Full Article (Registration Required): Source

Posted on 25 June 2009 by VRS |  Email |Print

From Arabianoilandgas.com: The proposed takeover of Nova Chemicals by the Abu Dhabi sovereign wealth fund International Petroleum Investment Company (IPIC) has been given the green light by US and Chinese regulators.

In a statement Nova said that both the Chinese commerce ministry and the US committee on foreign investment have approved the deal…….Full Article: Source

Posted on 25 June 2009 by VRS |  Email |Print

From Citywire.co.uk: The €230 billion (£195 billion) Norwegian Government Pension Fund - Global, also known as the Norwegian Oil Fund, has opened a new tender for external managers to run a range of country-specific emerging markets mandates, as well as broader regional mandates…….Full Article: Source

Posted on 25 June 2009 by VRS |  Email |Print

From Reuters: Porsche is advancing toward a deal with Qatar to give the Gulf state a shareholding in Volkswagen, a compromise that will clear the way for the car makers to merge, according to people involved in the talks.

Porsche racked up 9 billion euros ($12.7 billion) of debt trying to swallow its much bigger rival Volkswagen before the financial crisis turned the tables and threatened to unravel the deal…….Full Article: Source

Posted on 25 June 2009 by VRS |  Email |Print

From Chinadaily.com.cn: China’s National Social Security Fund has made its initial foray into the investment market to become a major limited partner (LP) in the country, which is just in line with the government’s policy of boosting the development of venture capital (VC) and private equity (PE) markets, according to last week’s 2009 LP Summit of China Venture, a research and consulting firm.……Full Article: Source

Posted on 25 June 2009 by VRS |  Email |Print

From Arabtimesonline.com: As part of the restructuring plan for company’s investments, assets and liabilities, Sarh Al-Madina Real Estate Company signed an agreement with RAK Investment Authority (RAKIA) to cancel Al Hamra land purchase and directing the paid amounts to covering the remaining payments for the Al Marjan land.
This contract stipulates the following:……Full Article: Source

Posted on 25 June 2009 by VRS |  Email |Print

From Reuters: One of the lessons that the global financial crisis has taught the world is that the top reserve currencies should be kept stable, Chinese Foreign Minister Yang Jiechi said on Wednesday.

“Countries across the world have suffered heavy losses from the ongoing global financial crisis and economic recession,” Yang told a U.N. General Assembly meeting on the economic crisis and its impact on the developing world…….Full Article: Source

Posted on 25 June 2009 by VRS |  Email |Print

From Dow Jones: Brazil’s international reserves increased by $422 million to $206.68 billion Tuesday, the Brazilian Central Bank said Wednesday.

Brazil’s international reserves have remained steady at around the $200 billion mark throughout the global economic downturn, which began to more sharply affect the country last September…….Full Article: Source

Posted on 25 June 2009 by VRS |  Email |Print

From Reuters: Angola’s exchange reserves dropped to $12.2 billion in May from $12.4 billion in April, the central bank announced on Wednesday, but the recent rise in oil prices has helped slow down the rate of the decline.

Analysts said they expected Banco Nacional de Angola’s (BNA) foreign exchange reserves to increase in coming months if oil prices remain at around $70 per barrel. Angola rivals Nigeria as Africa’s biggest oil producer…….Full Article: Source

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