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Sovereign Wealth Funds Briefing 11.May 2010

Posted on 11 May 2010 by VRS |  Email |Print

From Janes.com: After focusing too heavily on banks in recent years, some sovereign wealth funds (SWFs) and State-Owned Enterprises (SOEs) now seem keen to diversify their assets, implying a stronger interest in European aerospace and defence.
Having been vilified sometimes as vehicles through which non-liberal states would gain control over valuable financial and industrial assets, during the global economic crisis SWFs and SOEs became a welcome source of badly needed capital in a number of non-defence markets, but to what extent should sovereign investments be perceived as an opportunity or a threat to Europe’s defence sector?…………………………………..Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Business24-7.ae: Whether the aim is nuclear non-proliferati-on or ending whale hunts, getting governments to agree on multilateral accords can be notoriously difficult. Getting them to then stick to those agreements is the diplomatic equivalent of Mission Impossible.
It is, therefore, little surprise that self-regulation of the $3 trillion (Dh11.01trn) sovereign wealth fund (SWF) industry has struggled with few funds complying with rules put in place 18 months ago to govern their behaviour……………………………………Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Responsible-investor.com: Malaysian state investor Khazanah Nasional Berhad has joined the International Forum of Sovereign Wealth Funds, the 23-member group of state investment funds which promotes the Santiago Principles on sovereign fund governance, transparency and voting.
The group met last week in Sydney, hosted by Australia’s Future Fund. A communiqué acknowledged the role of the principles as SWFs seek to become “reliable and responsible sovereign investors”. …………………………………..Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Indiatimes.com: Fortis Healthcare, Asia’s biggest hospital chain, raised Rs 380 crore by selling shares to Singapore state-run investment company GIC Special Investments as part of its plans to raise Rs 3,000 crore for expansion.
The company has agreed to sell 6.58% of the company, or 22.35 million equity shares, at Rs 170 apiece, 1.5% higher than its closing price on Monday. Its shares rose 1.27% to Rs 167.25……………………………………Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Brisbanetimes.com.au: Abu Dhabi ’s sovereign wealth fund has increased its stake in Intoll, sparking speculation it could make a takeover offer for the so-called ”good” spin-off from Macquarie Infrastructure Group.
Just three days after emerging on the tollroad operator’s register with a 5.5 per cent stake, the Abu Dhabi Investment Authority has spent another $80 million to raise its holding to nearly 9 per cent. It makes the world’s largest sovereign wealth fund the third-biggest shareholder after Macquarie Group (18 per cent) and Lazard Asset Management (11)……………………………………Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Reuters: Gatwick airport owner Global Infrastructure Partners (GIP) is preparing to raise a second $5-billion fund. Earlier this year GIP sold stakes in Gatwick to the Abu Dhabi Investment Authority (ADIA), which is the world’s largest sovereign wealth fund, and to South Korea’s National Pension Service, leaving it with a 73 percent stake.
GIP, the owner of London’s Gatwick and City airports, has already held informal discussions with existing and potential investors about its plans and will kick off fundraising in earnest in the second half of the year……………………………………Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Just-style.com: Iconic London department store Harrods was sold over the weekend to investment group Qatar Holding for a reported GBP1.5bn (US$2.25bn). Owner Mohamed Al Fayed will remain as honorary chairman of the luxury retailer.
“We are happy to acquire Harrods, a unique company that combines an iconic luxury brand and one of the most prestigious retail properties in the world with best-in-class financial metrics,” said Ahmad Mohamed Al-Sayed, MD and CEO of Qatar Holding……………………………………Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Independent: Qatar Holding, one of the investment arms of the hugely-wealthy Qatar state and royal family, signalled yesterday that it is considering opening a new flagship Harrods shop in China after it completed a £1.5bn deal on Saturday to buy London’s department store from Mohamed al-Fayed.
After flying to Britain to close the deal, the Qatari Prime Minister, Sheikh Hamad bin Jassim bin Jabr al-Thani, who is also chairman of Qatar Holding, completed a tour of his latest purchase, which boasts no fewer than 330 departments as well as 28 restaurants, and made what is becoming a very familiar statement about a further acquisition for his nation’s vast sovereign wealth fund……………………………………Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Penews.com: Shareholders in Sainsbury’s might have drawn a sharp breath over the weekend when sovereign wealth fund Qatar Investment Authority swooped for London luxury department store with a £1.5bn (€1.7bn) buyout.…………………………………..Full Article: Source

Posted on 11 May 2010 by VRS |  Email |Print

From Balkans.com: Turkcell Iletisim Hizmetleri, Turkey’s biggest mobile phone company, is considering buying a stake in Zain, Kuwait’s largest mobile operator, chief executive officer Sureyya Ciliv said. The Kuwait Investment Authority and family-owned conglomerate Kharafi group are among Zain’s biggest stakeholders.
“Zain is one of the companies our international development group is looking at, but at the moment there is no important development,” Ciliv said in Istanbul on May 6 in comments carried by Turkish newspapers and confirmed on Sunday by a Turkcell official who declined to be named in line with company policy……………………………………Full Article: Source

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