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Sovereign Wealth Funds Briefing 18.Aug 2010

Posted on 18 August 2010 by VRS |  Email |Print

From WSJ: The Government of Singapore Investment Corp.’s real-estate arm, GIC Real Estate, is looking to begin global roadshows in late September for the initial public offering of its overseas assets for around US$3 billion, people familiar with the situation said.
GIC Real Estate manages a multibillion-dollar portfolio of direct and indirect property investments with close to 300 investments in more than 30 countries……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

Tan Sri Abu Bakar SuleimanFrom Bernama: Government investment arm, Khazanah Nasional Bhd, has emerged as the controlling stakeholder of Singapore’s healthcare group, Parkway Holdings Ltd, after securing 95 per cent take-up rate in its voluntary general offer (VGO) for the latter.
In a statement here Tuesday, Khazanah said this would further enhance its presence in the healthcare industry in the region……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

From Perthnow.com.au: Australia should be careful about investment by Chinese state-owned entities, says Opposition Leader Tony Abbott.
Echoing a sentiment previously expressed by Nationals senator Barnaby Joyce, the Opposition Leader said he was concerned about sovereign wealth funds buying shares in Australian businesses……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

From Dow Jones: South Korea’s National Pension Service said Tuesday it is negotiating to buy a stake in a French shopping mall called the O’Parinor.
An official at the fund, who declined to be named, said the size of the stake in the mall and the price haven’t yet been finalized. He didn’t elaborate……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

From Investingdaily.com: Reuters reported this week that sovereign wealth funds (SWF) could top the wish-list of General Motors’ management as the reconstituted US automaker contemplates the mechanics of an initial public offering (IPO) of new shares.
The new GM is considering making “cornerstone” stakes available to very large institutions capable of holding for the long term and providing ballast against what are likely to be volatile stock market and operating conditions……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

From Reuters: Goldman Sachs and Groupe Eurotunnel have expanded their bidding group for Britain’s only high-speed rail line as first-round bids were due for the 1.5 billion pound route. One is made up of Morgan Stanley Infrastructure, 3i Infrastructure Plc and Abu Dhabi Investment Authority (ADIA).
The British government is selling “High Speed 1,” which has a 30-year concession to run a 110 kilometre (70 mile) railway linking London and the Channel Tunnel, to help cut its budget deficit……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

From Telegraph: Sovereign wealth funds have also been very active, with recent figures showing that state-owned entities spent $12bn in the second quarter on company purchases globally, compared with just $1.1bn in the first three months of the year.
BHP offered $130 a share for Potash Corp, a 16pc premium to Monday’s closing price, but this was rejected outright by the company’s management……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

From Tradearabia.com: Mumtalakat, Bahrain’s sovereign wealth fund, expects to return to profit this year and is eyeing property investments in the UK, said a top official.
“This year should be a profitable year, the first half is already looking very good,” chief executive Talal Alzain said……………………………………….Full Article: Source

Posted on 18 August 2010 by VRS |  Email |Print

From Tradingmarkets.com: The sum of $3 billion has been taken from the Excess Crude Account. $2 billion of it was shared among the three tiers of governments while $1 billion was set aside for the proposed Sovereign Wealth Fund which is yet to be signed into law.
With the withdrawal, the depletion of the Excess Crude Account brings its current value to only about $460 million……………………………………….Full Article: Source

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