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Sovereign Wealth Funds Briefing 28.Nov 2012

Posted on 28 November 2012 by VRS |  Email |Print

Citic Capital Holdings Ltd., controlled by the sovereign wealth funds of Qatar and China, is in advanced talks to buy Chinese software services provider AsiaInfo-Linkage Inc. (ASIA) for about $900 million, two people with knowledge of the matter said.
Citic Capital sold a 22 percent stake in itself to Qatar Holding LLC in August, giving the fund additional capital for making overseas acquisitions. China Investment Corp. owns 31.1 percent of the company, which oversees more than $4.4 billion……………………………………….Full Article: Source

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Posted on 28 November 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund sold the last of the warrants it owns in Barclays, notching up a gain of more than £1.7 billion ($2.7bn) from the fundraising deal it struck with the bank four years ago.
The warrants, which convert into shares, were sold to Deutsche Bank AG and Goldman Sachs Group. The banks sold up to 303 million Barclays shares, worth £740m, at 244 pence apiece, a four per cent discount to Friday’s closing share price and at the bottom of an indicated range of 244-248 pence………………………………………..Full Article: Source

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Posted on 28 November 2012 by VRS |  Email |Print

Middle East sovereign wealth funds and pension funds will continue to shun all but prime European assets – and the demands they make on fund managers are increasing – according to a director of Wafra Capital Partners, the fund management subsidiary of the Kuwaiti pension fund.
Head of European operations Rachid Ouaïch told the Association of the Luxembourg Fund Industry conference that Middle East institutional investor appetite was “easy to summarise”. “Prime, prime, prime – that’s all they’re looking for in Europe right now.”……………………………………….Full Article: Source

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Posted on 28 November 2012 by VRS |  Email |Print

Libya is still in the race to save France’s Petit-Couronne refinery from liquidation, trade unions said late on Tuesday, as the embattled workers press the French government to help bidders or requisition the plant.
France’s Industry Minister said earlier this month he had received a non-binding letter of interest from Libya’s sovereign wealth fund to buy the refinery of insolvent Swiss refiner Petroplus. But French media said this week the Libyan Investment Authority had withdrawn its bid to take over the refinery, the oldest in France, citing a report from Libya’s LANA news agency………………………………………..Full Article: Source

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Posted on 28 November 2012 by VRS |  Email |Print

Azerbaijan, the Caspian nation best known for its caviar and petroleum, is buying Australian government bonds, joining a growing list of sovereign investors acquiring debt Down Under in a trend that has seen the Aussie dollar labelled a potential safe-haven currency by the International Monetary Fund.
The former Soviet republic’s $33bn sovereign-wealth fund - the State Oil Fund of the Republic of Azerbaijan, or Sofaz - said it quietly started buying Australian bonds in July, at a time when market data show the Aussie dollar gained 3.4% in value over the month………………………………………..Full Article: Source

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Posted on 28 November 2012 by VRS |  Email |Print

Singapore commodities firm Olam International Ltd, , part owned by Singapore state investor Temasek Holdings Pte Ltd, launched a vigorous defence on Wednesday against short-seller Muddy Waters’ attacks on its accounting practices and acquisitions, emphasising it is not at risk of insolvency.
Olam said in a 45-page report it has enough liquidity to pursue its current business and future investments. The rebuttal focused on major issues raised by Muddy Waters in its own report: Olam’s solvency, accounting-related assertions, business model, acquisitions and capital spending………………………………………..Full Article: Source

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