Fri, Dec 19, 2014
A A A
Welcome preal121
RSS
Sovereign Wealth Funds Briefing 11.Dec 2009

Posted on 11 December 2009 by VRS |  Email |Print

From Bloomberg: Australia’s sovereign wealth fund said it may join two Canadian pension funds in a A$6.8 billion ($6.2 billion) bid for toll-road owner Transurban Group after an initial offer was rejected five weeks ago.

The A$64.3 billion Future Fund is in talks with Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan, the Australian fund said today in a statement. Australia’s biggest toll-road company rejected an A$5.25 offer on Nov. 5, which was 20 percent higher than the previous closing price………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Smh.com.au: The Future Fund is in talks to invest $1.5 billion to help two of Canada’s biggest pension funds take toll road operator Transurban private.

Confirming what could become its most high-profile investment in a listed company since its inception in 2006, the Future Fund said yesterday it had entered preliminary talks with the Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan to support the $6.8 billion bid to buy Transurban………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Bloomberg: Lend Lease Group and Australia’s sovereign wealth fund are the leading bidders for the about A$1 billion ($916 million) sale of ING Retail Property Fund Australia, the Sydney Morning Herald reported.

Colonial First State, believed to be a potential bidder for the ING fund, has turned its attention to other deals, the newspaper reported in its Insider column today, without saying where it got the information………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Economist.com: Were SWFs right to buy? They piled in far too soon. It took another year for share prices to hit bottom; despite this year’s rally, they are still below the levels when SWFs invested, typically using convertible stock.
Plenty made mistakes: Temasek, Singapore’s other state fund, sold out of Bank of America early this year, probably at a loss. Nor should the near misses be forgotten………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Btimes.com.my: Malaysia’s state investment arm Khazanah Nasional has raised RM704.7 million (US$207.5 million) after placing out about 87 million shares in national utility Teanga, dealers said today.

The shares were sold at RM8.10 a share, the dealers said………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Theglobeandmail.com: China Investment Corp., the $300-billion sovereign wealth fund, is expected to generate a lot of dealmaking activity in Canada in coming years, but bankers may not make as much money from the behemoth’s buying as they might think.

According to Reuters, CIC is awfully thrifty when it comes to handing out the fees, and in a year when deals are still relatively scarce, the fund has the pricing power to take a stand………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Reuters: China Investment Corp (CIC) bought an 11 percent stake in KazMunaiGas Exploration and Production, an upstream arm of Kazakh state energy firm KazMunaiGas,for $939 million in October.

KazMunaiGas EP produced 12 million tonnes of oil in 2008 and is one of Kazakhstan’s top three producers. The total volume of its proved and probable reserves, as at the end of 2008, is 241 million tonnes (1.8 billion barrels)………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Telegraph: Qatar has the world’s second largest gas reserves. Oil-rich Abu Dhabi has the biggest sovereign wealth fund, worth about $700bn (£431bn). Kuwait has 8pc of global oil reserves, with a population of just 3m.

By contrast, “post-oil” Dubai is trying to reinvent itself as a tourist and financial hub – a strategy now in trouble………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From FT Alphaville: The Kuwait Investment Authority has held internal discussions about scaling back its banking relationship with Citigroup in a move that could include transferring funds currently deposited with the US bank.
A withdrawal of KIA funds from Citi would hit the bank as it seeks to repay US bail-out funds. KIA’s deliberations have taken place in recent months while it has been selling Citi shares acquired in January 2008……………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Zawya.com: Istithmar World, the Dubai sovereign wealth fund and the private equity arm of Dubai World, the debt-laden conglomerate, is coming under increasing pressure from creditors as it loses control of key assets and breaches loan covenants.

Spurred by its ambitious parent company, the private equity firm went on a multi-billion dollar acquisition spree, snapping up assets such as Barneys, the New York retailer, the Queen Elizabeth II ocean QE2 cruise liner, Cirque du Soleil and trophy real estate in London and New York………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Thepeninsulaqatar.com: On deals, China Investment Corp, the country’s sovereign wealth fund, has kept investment banks busy with countless energy-related outbound investments.

Asia-based bankers who specialise in financial sector mergers and acquisitions have worked overtime on deals, mainly related to regional divestments by troubled western financial institutions including ING Group, AIG and RBS………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 11 December 2009 by VRS |  Email |Print

From Dnaindia.com: Government of Singapore Investment Corporation (GIC) got the maximum allocation at 17.10%, while FID Funds (Mauritius) Ltd was allotted 15.86% of anchor investor portion.

DB Corp would utilise proceeds of the IPO for strengthening its existing markets, launching publications in new markets, and reduce its longterm debt and working capital loans………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

See more articles in the archive

banner
banner
December 2014
M T W T F S S
« Nov    
1234567
891011121314
15161718192021
22232425262728
293031