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Sovereign Wealth Funds Briefing 12.Nov 2012

Posted on 12 November 2012 by VRS |  Email |Print

China’s sovereign wealth fund will focus more of its $482 billion firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei said.
The man charged with stewardship of a slice of the world’s largest store of foreign wealth lauded the British approach to overseas investment in public sector projects as one for the world to follow and said the policy response to Europe’s debt crisis was a reason to stay underweight bonds and stocks there………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

China’s sovereign wealth fund will invest more in neighboring markets to buffer the impact of sluggish world economy, Europe’s debt crisis and the US fiscal cliff, said chairman of the China Investment Corporation (CIC) on Saturday.
Infrastructure will be the priority of CIC’s future investment to optimize its overseas portfolio, said Chairman Lou Jiwei, a delegate to the ongoing 18th National Congress of the Communist Party of China. He said the move goes along with the Party’s call to consolidate good relations with neighboring countries through deepened collaboration………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

Billionaire Suleiman Kerimov and his partners in OAO Uralkali (URKA), the largest potash producer, sold bonds to China’s sovereign wealth fund and VTB Capital that can be exchanged for shares valued at about $3.2 billion.
Chengdong Investment Corp., a unit of CIC International Co., and Moscow-based VTB Capital bought bonds from the shareholders that mature in 2014 and are exchangeable into a 14.5 percent stake in Uralkali, the fertilizer producer said today in a statement. Uralkali had a market value of about $22 billion as of yesterday’s close………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

The main owners of Russia’s Uralkali have sold bonds exchangeable into shares worth about $3-billion (U.S.) in a deal that could give a Chinese sovereign wealth fund a stake in the world’s largest potash miner by output. Uralkali said on Friday that the bonds had been sold to Chengdong Investment Corp., a subsidiary of China’s CIC, and to VTB Capital, a subsidiary of the country’s No. 2 bank VTB.
The bonds are due in 2014 and exchangeable into a 14.5-per-cent stake in Uralkali worth more than $3-billion at current prices. China’s CIC could exchange its bonds into a 12.5-per-cent stake and VTB to a stake of 2 per cent………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

The China Investment Corporation, China’s sovereign wealth fund, said Friday that it has purchased exchangeable bonds from Wadge Holdings Ltd, which is owned by the key shareholders of Russian company Uralkali, the world’s largest potash miner.
The bonds are exchangeable into shares of Uralkali, the statement said, on condition that CIC’s share will not be more than 12.5 percent………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

Qatar’s investment vehicle puts a rumoured $100 million into the Peter Chernin-owned media company. Qatar Holding has become a shareholder in The Chernin Group after making a ‘significant equity investment’ believed to be in the region of $100 million.
The media and entertainment firm, run by the former chief operating office of News Corporation, Peter Chernin, said in a statement that the company had added the government-backed subsidiary of Qatar Investment Authority to its list of shareholders………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

A group of investors led by Jan Kulczyk, Poland’s richest man, and Qatar’s sovereign wealth fund are bankrolling a $700m company investing in mineral exploration and extraction in Africa and South America, said a person close to the transaction.
The project, set to be announced this week, is expected to be managed by Lloyd Pengilly and Roger Kennedy, well-regarded bankers and minerals resources experts who left JPMorgan this year to work on their own projects. “They are supposed to be the rainmakers and the managers,” said a person familiar with the matter………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

Abu Dhabi government investment vehicle Mubadala Development Company has added a second board member to Advanced Micro Devices (AMD), the troubled US chip maker in which it owns an almost 20 percent stake.
In a statement, Mubadala said it nominated Ahmed Yahia Al Idrissi to the California-based semiconductor firm’s board of directors. “The appointment of Ahmed to the AMD board is consistent with Mubadala’s long-standing commitment to the company and a reflection of the importance of the semiconductor industry to the Mubadala portfolio,” AMD said………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

France could co-invest alongside Libya’s sovereign wealth fund if the wealth fund takes over insolvent Swiss refiner Petroplus’ plant in Normandy, industry minister Arnaud Montebourg says.
Montebourg, keen to secure a rescue of the Petit Couronne plant, the oldest refinery in France, heads to Libya with French foreign minister Laurent Fabius on Monday. In an interview in Sunday newspaper Le Journal du Dimanche, Montebourg highlighted the fact that Libya’s sovereign wealth fund had expressed interest in the refinery in Normandy, northwest France, which was put under legal protection after its Swiss-based owner Petroplus filed for insolvency last year………………………………………..Full Article: Source

Posted on 12 November 2012 by VRS |  Email |Print

Norway’s $650 billion sovereign wealth fund has started asking companies it invests in to minimize their impact on rainforests, green groups said on Friday, welcoming a shift they hoped would make it rethink some deals.
The fund, one of the world’s biggest investors, made the changes to its guidelines in September without fanfare. “We hope this will mean Norway stops investing and pulls out of many companies that are damaging rainforests,” said Nils Hermann Ranum, spokesman of the Rainforest Foundation Norway………………………………………..Full Article: Source

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