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Sovereign Wealth Funds Briefing 23.Dec 2011

Posted on 23 December 2011 by VRS |  Email |Print

Nursultan NazarbayevKazakh President Nursultan Nazarbayev said on Thursday that he would sack Timur Kulibayev, his son-in-law and the head of the sovereign wealth fund Samruk-Kazyna.
The head of state oil and gas company KazMunaiGas - one of the fund’s key assets - and its London-listed subsidiary KazMunaiGas Exploration Production were replaced earlier on Thursday after deadly clashes in an oil region where the latter operates fields………………………………………..Full Article: Source

Posted on 23 December 2011 by VRS |  Email |Print

China Investment Corp., the nation’s sovereign wealth fund, will buy 25 percent of former South African politician Cyril Ramaphosa’s Shanduka Group for 2 billion rand ($245 million), Shanduka said.
CIC will acquire its shares mainly from Old Mutual Private Equity and Investec (INVP), which are selling their holdings, Johannesburg-based Shanduka said in an e-mailed statement yesterday. Shanduka, with investments including coal and McDonald’s Corp. (MCD) franchises, is led by Ramaphosa, who founded the National Union of Mineworkers, South Africa’s biggest labor union, in the 1980s………………………………………..Full Article: Source

Posted on 23 December 2011 by VRS |  Email |Print

China’s sovereign-wealth fund has acquired a 25% stake in South Africa’s Shanduka Group, an unlisted but prominent investment holding company with interests in coal mining and other industries.
China Investment Corp. paid two billion rand, or about $243 million, for the stake, Shanduka Group said in a statement Thursday. The shares came mainly from Old Mutual Private Equity and Investec Ltd., which have divested from the Shanduka Group, the company said………………………………………..Full Article: Source

Posted on 23 December 2011 by VRS |  Email |Print

German automaker Daimler AG plans to sell 5%-10% of its stock to China Investment Corporation (CIC) in order to improve the relationship between the company and the Chinese government, according to Germany’s Manager Magazine.
If the deal is completed, the Chinese sovereign wealth fund will become the second largest stakeholder in Daimler………………………………………..Full Article: Source

Posted on 23 December 2011 by VRS |  Email |Print

Germany’s luxobarge makers aren’t just happy selling their luxobarges to China. Now they want Chinese money straight up. Daimler is flirting with the Chinese sovereign wealth fund China Investment Corporation (CIC), which may want to buy 5 or 10 percent of Daimler.
Sovereign wealth funds invest their money in stocks, where it supposedly yields more than buying T-bills denominated in a devaluing dollar………………………………………..Full Article: Source

Posted on 23 December 2011 by VRS |  Email |Print

Chinese low-end smartphone maker Xiaomi has received $90 million in B-round venture capital funding from investors such as IDG Capital, Temasek Holdings and Qualcomm Inc, the 21st Century Business Herald reported on Wednesday.
The latest round of financing values Xiaomi at $1 billion, the paper reported, quoting the firm’s founder Lei Jun………………………………………..Full Article: Source

Posted on 23 December 2011 by VRS |  Email |Print

A joint venture between between two Asian sovereign wealth funds has acquired 15 prime logistics assets in Tokyo and Osaka for JPY122.6bn (€1.2bn) from LaSalle Investment Management.
Global Logistic Properties (GLP), a listed subsidiary jointly-owned by the Government of Singapore Investment Corporation (GIC) and the $406.9bn (€308.2bn) China Investment Corporation will each initially contribute $272.9m. A consortium of Japanese banks will provide the balance via a five-year JPY81bn credit facility………………………………………..Full Article: Source

Posted on 23 December 2011 by VRS |  Email |Print

BTA, Kazakhstan’s third-largest bank by assets, will propose a further debt restructuring at a shareholder meeting next month, a move seen requiring creditors to write off at least half their investment.
The bank managed to cut net debt by about two thirds to $4.2 billion through a restructuring programme agreed with creditors last year, which installed Samruk-Kazyna as its 81.5-percent shareholder. BTA has relied largely on Samruk-Kazyna’s support after struggling with persistent bad loans, slow growth in the non-commodity sectors of Kazakhstan’s $150 billion economy and the cost of servicing its government funding package………………………………………..Full Article: Source

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