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Sovereign Wealth Funds Briefing 10.Jun 2010

Posted on 10 June 2010 by VRS |  Email |Print

From Reuters: Agricultural Bank of China plans to sell about 40 percent of its Hong Kong initial public share offering to investors such as Middle East and Asian sovereign wealth funds, as well as other global corporations, sources said on Wednesday.
Sources said sovereign funds, including China Investment Corp (CIC), Qatar, Kuwait and Temasek, were seen as likely buyers of pre-IPO stakes in AgBank, along with Dutch group Rabobank, which just signed a strategic agreement with China’s third-largest lender…………………………………………Full Article: Source

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Posted on 10 June 2010 by VRS |  Email |Print

From Indiatimes.com: Hospital chain Fortis Healthcare said its shareholders have approved selling 6.58 per cent stake in the company to Singapore-based private equity firm GIC for $83 million (Rs 380 crore). The stake sale has been carried through preferential allotment of 22.3 million equity shares.
The company in a filing to the Bombay Stock Exchange said that its shareholders in an extra-ordinary general meeting held today approved the allotment of 22.3 million equity shares of Rs 10 each at a premium of Rs 160 to Lathe Investment Pte Ltd, an affiliated investment vehicle of GIC Special Investment…………………………………………Full Article: Source

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Posted on 10 June 2010 by VRS |  Email |Print

From Hindustantimes.com: Fortis Healthcare, Asia’s largest healthcare provider, is gearing up for a battle to acquire the controlling stake in Singapore-based Parkway Holding. The company’s tussle for Parkway began when Malaysian sovereign wealth fund Khazanah announced a partial cash offer worth $ 835 million to increase its stake in Parkway to 51 per cent from the current 23 per cent.
Fortis had picked up 23.9 per cent stake in Parkway for about $ 685.3 million (nearly Rs 3,100 crore) from TPG Capital…………………………………………Full Article: Source

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Posted on 10 June 2010 by VRS |  Email |Print

From Ndtv.com: Road, Transport and Highway Minister Kamal Nath on June 9 said he is in discussion with Singapore’s investment firm Temasek Holdings for setting up a a fund, which could have a corpus of $2 billion, for building roads and ports in India.
The Singapore state-owned investment company, Temasek, has several investment funds dedicated to major global projects, including in China…………………………………………Full Article: Source

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Posted on 10 June 2010 by VRS |  Email |Print

From People.com.cn: China’s massive sovereign wealth fund announced Tuesday a 10 pecent mark-to-market loss and said it was waiting for fresh money from the government. China Investment Corporation (CIC), also known as China’s sovereign wealth fund, manages nearly $300 billion in foreign exchanges.
“In May and June, because of the volatility of the US and European markets, we had about 10 percent mark-to-market losses,” Jesse Wang, executive vice president and chief risk officer of China Investment Corporation, said at an event in San Francisco…………………………………………Full Article: Source

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Posted on 10 June 2010 by VRS |  Email |Print

From Tradearabia.com: Kingdom Holding, owned by Saudi investor Prince Alwaleed bin Talal, and UAE-based Mubadala Development Company have discussed future potential business collaboration, the Saudi firm said on Wednesday.
Prince Alwaleed bin Talal has held a meeting with Khaldoon Al-Mubarak, CEO of Mubadala Development Company in Riyadh, their second meeting this year, Kingdom Holding said in a statement…………………………………………Full Article: Source

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Posted on 10 June 2010 by VRS |  Email |Print

From Washingtontimes.com: British and European leaders are questioning Tony Blair’s role as Middle East peace envoy following reports about the former British prime minister’s business links to Libyan leader Moammar Gadhafi and the Middle East.
Ciaran Ward, Blair’s media manager, said the former prime minister “does not have any role, either formal or informal, paid or unpaid, with the Libyan Investment Authority or the government of Libya.”………………………………………..Full Article: Source

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Posted on 10 June 2010 by VRS |  Email |Print

From Dow Jones: Vietnam’s foreign currency reserves are expected to rise to the equivalent of 12 weeks of imports by the end of this year, state media said Wednesday, citing an official with the country’s central bank.
The country’s foreign currency reserves are now equivalent to nine weeks of imports, Nguyen Van Binh, deputy governor of the State Bank of Vietnam, was quoted as saying by the online news provider VnExpress…………………………………………Full Article: Source

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