Wed, Apr 23, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 24.Mar 2010

Posted on 24 March 2010 by VRS |  Email |Print

From Reuters: The Future Fund, Australia’s sovereign wealth fund has ended talks to back a $4.5 billion plan by two Canadian pension funds to buy out toll road operator Transurban, sending its shares down 6 percent.
Transurban has been courted for months by the Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan, which owns about 28 percent of the group, but the sides have been in a stand-off since Transurban rejected their A$5.25 a share offer in November……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Eeo.com.cn: China Investment Corporation (CIC), China’s sovereign wealth fund, began to focus on investment in private equity funds and domestic heavy industry from the beginning of this year, according to a detailed list of the CIC investments made in the second half of 2009 acquired by the EO.
According to the inventory list, on February 4th, CIC invested 1.52 billion US dollars for a 2.3 percent stake in British private equity fund Apax……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Reuters: China Central Huijin Investment Ltd., the domestic arm of China’s sovereign wealth fund, has applied for a $50 billion cash injection from the Chinese government, the National Business Daily said on Wednesday.
China Investment Corp (CIC), parent of Huijin, has submitted an application for cash aid to the State Council, the country’s cabinet, the semi-official paper said, citing an unnamed CIC source……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Reuters: Bank of China, China’s fourth largest bank, said on Tuesday it was in talks with Temasek Holdings, Singapore’s sovereign wealth fund, to set up a rural business bank in China.
The bank under discussion would have 40-60 branches, President Li Lihui told reporters at a media briefing to discuss Bank of China’s 2009 results……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Financialexpress.com: The petroleum ministry has mooted the idea of a sovereign fund to help finance acquisition of energy assets by Indian companies abroad. The ministry has proposed setting aside a part of India’s $254 billion forex reserves for this purpose.
This is a welcome move because it would help Indian companies like ONGC Videsh (OVL) to take on competition from their Chinese counterparts that are backed by a similar fund created by the Chinese government……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Businessweek.com: Khazanah Nasional Bhd. will explore international acquisitions in Asia instead of high-profile purchases of Western companies, said Azman Mokhtar, managing director of the Malaysian state investment agency today.

It will target buying opportunities in Southeast Asia, especially Indonesia and Singapore, as well as in China, India and the Middle East, Azman told Bloomberg Television outside a Credit Suisse Group AG-sponsored conference in Hong Kong……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Bernama: The government has directed Khazanah Nasional Bhd and the Employees Provident Fund to hasten the divestment of their equity holdings in government-linked companies to make the capital market more atttractive to foreign fund managers, Prime Minister Datuk Seri Najib Tun Razak said.

“We have been doing so but we have to do more as the market wants us to reduce government holdings and I have given the direction to Khazanah and EPF to act accordingly,” he said……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Thejakartaglobe.com: PT Bumi Resources, the country’s largest coal miner, is seeking acquisitions at home and overseas as the price for power-station fuel rises around the world. China Investment Corp., the Chinese sovereign wealth fund, bought $1.9 billion of debt from Bumi in September.

“We want to get as large as possible as quickly as possible and focus on international expansion that we believe pays better-than-average shareholder returns,” Bumi director Ken Farrell said on the sidelines of a conference in Singapore on Tuesday……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From AP: State Revenue Department officials are reminding Alaskans that they have nine more days to apply for Alaska Permanent Fund dividends. The deadline is March 31.

PFD Operations Manager Dan DeBartolo says Alaskans can apply on line at http://www.pfd.alaska.gov and receive immediate confirmation that their applications were completed……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Tradearabia.com: Abu Dhabi plans to set up a dedicated investment agency to attract foreign investment, an Abu Dhabi government official said on Tuesday.

‘In line with our five-year strategic plan, the department is working towards setting up a dedicated investment agency to serve the needs of international investors,’ said Mohamed Omar Abdullah, under secretary of the emirate’s department of economic development……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Reuters: Ghana’s Finance Minister is seeking to create two investment funds fed by future oil revenues that would fill budget gaps and preserve the West African nation’s hoped-for energy wealth, according to a draft of the proposal posted on the ministry’s website.

The proposal would also rule out government borrowing against future crude production in the country, a leading cocoa and gold producer which is on track to be a commercial oil exporter by the end of this year……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From AFP: The Gulf emirate of Qatar is looking for more German investment opportunities after becoming the third biggest shareholder in Volkswagen, a top official told the business daily Handelsblatt.
Germany “now seems to be open again to investment,” he added in reference to efforts two years ago to limit the access of sovereign wealth funds from Gulf countries, China and Russia to German companies……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Businessweek.com: Volkswagen AG will sell new shares in a rights issue valued at as much as 4.7 billion euros ($6.4 billion) to help finance the takeover of Porsche SE’s auto-making unit. Qatar Holding, part of the country’s sovereign wealth fund, said it remains a long-term investor in Volkswagen.

VW will offer as many as 65 million preferred shares, with the sale price, subscription ratio and offer volume to be decided by March 26, the company said in a statement today……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Guardian: Creditors of Dubai World, which include RBS and Lloyds, could be forced to accept repayment delays of as much as nine years in a sign that the recession is putting pressure on lenders to take what they can out of troubled investments.

Dubai World, which last year stunned financial markets by asking creditors to postpone some of its debt payments, is expected to announce a $26bn (£17.3bn) debt restructuring plan within days……………………………..Full Article: Source

Posted on 24 March 2010 by VRS |  Email |Print

From Reuters: Egypt’s Beltone Private Equity and Sudan’s Kenana Sugar Company will launch a $1 billion agricultural investment fund next week. Kenana’s biggest shareholders include the Kuwait Investment Authority with 30.5 percent.
Gulf and other Arab countries have been investing in a range of farming projects in Sudan, Africa’s biggest country by area and long viewed as having huge agricultural potential……………………………..Full Article: Source

See more articles in the archive

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930