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Sovereign Wealth Funds Briefing 29.Nov 2012

Posted on 29 November 2012 by VRS |  Email |Print

America’s indebtedness and repeated monetary easing is a matter of grave concern but gold offers a glimmer of hope in these times, according to China Investment Corp (CIC) president Gao Xiqing.
Gao, who runs China’s US$482 billion sovereign wealth fund, said he is “not quite convinced” about the US economic system, which he said makes the government print money to satisfy the needs of certain interest groups………………………………………..Full Article: Source

Posted on 29 November 2012 by VRS |  Email |Print

Global investment house Xander Group and Mapletree, the real estate unit of Temasek Holdings, are in the fray to acquire Indian construction major Shapoorji Pallonji’s business park SP Infocity, in Chennai, valued at Rs 450 crore.
The Information Technology (IT) park is 27-lakh-sqft development, and the deal on the table comprises of 8-lakh sq ft of tenanted office space leased to clients like HSBC, Amazon, Saksoft, Hapag Lloyd, Lister Technologies, and Neeyamo. Private equity groups like Blackstone, Baring and GIC of Singapore have stepped up its interest in India’s office buildings, especially assets in the outsourcing hubs of southern India, as a stable route to participate in the domestic real estate play………………………………………..Full Article: Source

Posted on 29 November 2012 by VRS |  Email |Print

Libya’s sovereign wealth fund is to send a team to France next week to examine the prospects of investing in the troubled Petroplus oil refinery, the fund’s president said on Wednesday. “A team will travel next week to study the industrial data of the refinery and draw up a report, on the basis of which we will take a decision,” Mohsen Derigia said.
The mission comes after the Libyan Investment Authority denied on Monday that it wanted to invest in the Petroplus refinery in northwestern France………………………………………..Full Article: Source

Posted on 29 November 2012 by VRS |  Email |Print

Libya has not withdrawn its bid to buy France’s troubled Petit-Couronne oil refinery, the French government and the Libyan sovereign fund said on Wednesday, dispelling contradictory comments on the bid by the authorities in Paris.
French Foreign Minister Laurent Fabius said on France Inter radio early on Wednesday that Libya was no longer interested in buying the refinery owned by insolvent Swiss refiner Petroplus………………………………………..Full Article: Source

Posted on 29 November 2012 by VRS |  Email |Print

Citic Capital Holdings, controlled by the sovereign wealth funds of Qatar and China, is close to acquiring the Chinese software services provider AsiaInfo-Linkage Inc. (ASIA), Bloomberg has reported, citing two sources.
Citic Capital is in advanced talks to buy Beijing-based AsiaInfo for about $900m, said the sources. AsiaInfo sells telecoms software to China’s biggest wireless carriers. Citic Capital sold a 22% stake in itself to Qatar Holding in August, giving the fund additional capital for making overseas acquisitions………………………………………..Full Article: Source

Posted on 29 November 2012 by VRS |  Email |Print

AsiaInfo-Linkage Inc. (ASIA) rose to an eight-week high in New York on prospects Citic Capital Holdings Ltd., controlled by the sovereign wealth funds of Qatar and China, is close to acquiring the Chinese software services provider.
The shares gained 3.3 percent to $11.34 by 10:55 a.m. in New York on trading volumes 24 percent above the daily average over the past three months. AsiaInfo is poised for its highest close since Oct. 1. 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

Posted on 29 November 2012 by VRS |  Email |Print

Under the aegis of His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, a ceremony was held here on Wednesday to celebrate the Kuwait Investment Office’s (KIO) Diamond Jubilee.
HH the Amir was warmly welcomed to the ceremony site by Dr. Nayef Falah Mubarak Al Hajraf, Minister of Finance, Acting Minister of Education and Minister of Higher Education……………………………………….Full Article: Source

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