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Sovereign Wealth Funds Briefing 21.Oct 2009

Posted on 21 October 2009 by VRS |  Email |Print

From Domain-b.com: Qatar’s sovereign wealth fund, Barclays Bank’s largest shareholder, is selling half of its stake in the bank worth over £1.3-billion to profit from the bank’s rising share price.

Qatar Holdings, the investment arm of the Qatar sovereign wealth fund today said that it is selling 379.2 million shares of Barclays by paying £750 million to the bank for exercising warrants at 197.775 pence to sell the stock at 382.05 pence to raise approximately £1.4 billion, earning a net gain of £650 million…………………..Full Article: Source

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Posted on 21 October 2009 by VRS |  Email |Print

From Independent: Speculation that Qatar’s sovereign wealth fund is preparing another tilt at Sainsbury’s was rising again yesterday after it sold down its stake in Barclays.

The Qatar Investment Authority was issued with warrants at the height of the financial crisis that allowed it to buy 380 million new Barclays shares at 198p…………………..Full Article: Source

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Posted on 21 October 2009 by VRS |  Email |Print

From Gulfbase.com: Abu Dhabi investment fund Mubadala is looking at investment possibilities in Asia, including China, India and Vietnam, a director of the fund has said.

We have a balanced portfolio, we look at opportunities in the UAE and outside, Nasser Ahmed Alsowaibi told Reuters on the sidelines of an investment forum…………………..Full Article: Source

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Posted on 21 October 2009 by VRS |  Email |Print

From Arabianbusiness.com: Abu Dhabi’s annual inflation rate has fallen to below 4 percent, an Abu Dhabi economy official on Monday told an investment forum.

“We’ve seen the inflation rate really dip, we are talking about sub-4 percent, give or take, in Abu Dhabi today,” Waleed Al Mokarrab Al Muhairi, director general of the council for economic development, told an Abu Dhabi investment forum…………………..Full Article: Source

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Posted on 21 October 2009 by VRS |  Email |Print

From Thenational.ae: Abu Dhabi Investment House (ADIH) is launching a US$300 million (Dh1.1 billion) Sharia-compliant hospitality development fund to invest primarily in projects in the MENA and Asia regions.

The three-year fund will focus on airlines, tourism, accommodation, food services and leisure, ADIH said in a statement…………………..Full Article: Source

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Posted on 21 October 2009 by VRS |  Email |Print

From Business24-7.ae: Abu Dhabi Investment Authority (Adia) is investing in two towers in Rio de Janeiro, Brazil.

Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, who is on a visit to the South American nation, inspected the construction progress of the towers…………………..Full Article: Source

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Posted on 21 October 2009 by VRS |  Email |Print

From Abc.az: Investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) grew by $1.5 bn for the 3rd quarter of 2009.

SOFAZ executive director Shahmar Movsumov says that by 1st October 2009 investment portfolio totaled $13.2 bn versus $11.748 bn by 1st July, $10.512 bn by 1st April and $11.189 bn by 1st January of 2009…………………..Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

From Reuters: The Australian government’s plan to break up phone company Telstra Corp poses significant risk for the shares, the phone company’s largest shareholder said on Tuesday.

Australia’s sovereign fund, the Future Fund, also said it was too early to fully assess the impact of the government’s plan…………………..Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

From Globalpensions.com: Australia’s A$64.3bn (US$60bn) Future Fund reported returns of 5.6% in the quarter ending September 30.

Since its inception on July 1, 2007, the scheme has returned 1.2%. The Future Fund was established to shore up assets the government can use at a later date to cover superannuation fund contributions………………….Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

Verenex Energy Inc. announced that negotiations with the Libyan Investment Authority and its legal and other advisors on the definitive agreement for the acquisition of Verenex by the LIA, contemplated in the memorandum of understanding announced on September 18, 2009, are progressing consistent with the terms outlined in the MOU but require additional time to be completed.
Accordingly, an extension to the MOU has been agreed which provides for signing of the definitive agreement on or before November 6, 2009…………………..Full Press Release: Source

Posted on 21 October 2009 by VRS |  Email |Print

From Legalbusinessonline.com: CIC’s execution teams have had a busy two months. Since September this year, the sovereign wealth fund has invested US$3.7bn in total in three foreign companies - Indonesia’s PTBumi Resources, Hong Kong-based Noble Group, and Kazakhstan-based oil & gas corporation JSC KazMunaiGas, as CIC continues its investment focus on natural resources and commodities sectors.

In its US$939m investment in JSC KazMunaiGa, whose shares are listed on the Kazakhstan Stock Exchange and Global Depositary Receipts are listed on the main market of the London Stock Exchange, CIC sought out Vinson & Elkins for international legal advice for the first time…………………..Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

From Takepart.com: To make the plan work, the Maldives would have imposed a green tax on tourists to start a sovereign wealth fund in order to buy a new country, or part of an existing one.
The newer plan is for the Maldives to be the first country to go completely carbon neutral by 2020. Nasheed reckons that if a country as poor as his own can accomplish this challenge, there is no reason wealthy world powers cannot…………………..Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

From People.com.cn: Minzhong, whose majority shares are held by Government of Singapore Investment Corporation (GIC) and US private equity firm Olympus Capital, plans to raise between $100 million and $150 million from the initial public offering (IPO), company sources said.

“We planned for the IPO a few years ago, and now all the procedures are underway,” the sources told China Daily…………………..Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

From Telegraph: Shares in J Sainsbury rose by over 5pc on Tuesday day on speculation that the Qatari Investment Authority (QIA) could mount a bid for the supermarket group following its sale of 379m shares in Barclays.
The sale netted the QIA a war chest of £615m. Traders speculated that this could go towards bumping up the sovereign wealth fund’s existing 26pc stake in the Sainsbury’s…………………..Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

From Asiaone.com: Temasek Holdings is capitalising on buoyant financial markets to sell bonds that will raise hundreds of millions of dollars for its activities.

The 10-year bond issue - marking only the second time the company has tapped the bond markets for financing - comes after a difficult year in global equity markets for the investment firm…………………..Full Article: Source

Posted on 21 October 2009 by VRS |  Email |Print

From Ifrasia.com: Singapore’s sovereign wealth fund Temasek Holdings yesterday (October 19) priced a Reg S/144a US$1.5bn 10-year global that caught a hefty bid from US rates accounts, building on the tailwind created by the reverse inquiries indicated when Temasek met with investors on the road last week.
Some 62% of the paper went into the US, with crossover accounts well represented with large anchor orders…………………..Full Article: Source

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