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Sovereign Wealth Funds Briefing 22.Aug 2012

Posted on 22 August 2012 by VRS |  Email |Print

John RwangombwaRwanda will officially launch its donation-driven sovereign wealth fund on Thursday, making a push to establish an alternative stream of income as international aid continues to dry up. The government said the Agaciro Development Fund will be supported by donations from Rwandans around the world as well as those still living in the African nation to “improve the level of financial autonomy” of the country.
Since the Rwandan genocide of 1994, the nation has been largely aid-dependent. It has been working to re-build its economy, reduce poverty and increase tourism………………………………………..Full Article: Source

Posted on 22 August 2012 by VRS |  Email |Print

Ivan GlasenbergThe game of chicken between Glencore’s billionaire CEO Ivan Glasenberg and the Qatari sovereign wealth fund over Xstrata continues. While Qatari Holdings has been progressively building its stake in the miner to the point where it can block the merger unless they gets a better price, Glasenberg came out on Tuesday and said buying Xstrata is “not a must-do deal.”
The showdown will have its climax on September 7, when Xstrata’s shareholders are set to vote on the Glencore offer………………………………………..Full Article: Source

Posted on 22 August 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund has been confirmed as the largest public spender on European property. Investments totalled over $4.33 billion in just eight deals in the last twelve months, which is equivocal to just six weeks’ revenue from the LNG producing giant. Qatar was recently recognised as the wealthiest country in the world per capita.
Joseph Kelly, director of market analysis at Real Capital Analytics, said: “For sovereign wealth funds like the Qatar Investment Authority, property deals are about wealth preservation not returns. They have a lot of money to spend, so deals tend to be big and in the cities they know well.”……………………………………….Full Article: Source

Posted on 22 August 2012 by VRS |  Email |Print

Abu Dhabi has been chosen as the preferred bidder for 42 UK-based Marriott hotels after making an offer of £620m (US$973m). State-backed lender Royal Bank of Scotland Group have taken control of the properties following loan defaults and the Abu Dhabi Investment Authority has been named as the preferred bidder, according to a report by UK-based trade magazine Property Week.
Last month, the Sunday Times reported Qatar and Abu Dhabi had both been in talks to buy the hotel. The highest bid was said to be made by the Qatar Investment Authority, which had planned to team up with the Blue Coast Indian hotel chain as part of the deal………………………………………..Full Article: Source

Posted on 22 August 2012 by VRS |  Email |Print

The sovereign wealth funds of China and Singapore have invested a combined $1 billion (Dh3.67 billion) in a US plant that will export cheap liquefied natural gas (LNG) to Asia, a source said, becoming the latest Asian institutions to tap into the gas boom in the United States.
China Investment Corp (CIC) and the Government of Singapore Investment Corp have pumped in around $500 million each in US-based Cheniere Energy Partners LP’s planned LNG export plant, a source with knowledge of the matter said on Tuesday………………………………………..Full Article: Source

Posted on 22 August 2012 by VRS |  Email |Print

China Investment Corp, the country’s sovereign fund, and Government of Singapore Investment Corp have invested around $500 million each in US-based Cheniere Energy Partners Ltd’s planned export plant for liquefied natural gas, a source familiar with the matter told Reuters on Tuesday.
Houston-based Cheniere, which has regulatory approval to build the United States’ first LNG export plant in a generation, has been seeking funds to start construction………………………………………..Full Article: Source

Posted on 22 August 2012 by VRS |  Email |Print

Singapore state investor Temasek Holdings has sold its stake of roughly 1.4 per cent in Asia Pacific Breweries to Heineken, sources said on Tuesday, potentially stopping the Dutch brewer’s Thai rival from blocking the takeover.
APB shares soared 4.8 per cent to a record S$53 in Singapore trading on Tuesday after Heineken sweetened its bid for the maker of Tiger Beer to US$6.35 billion to fend off Thai billionaire Charoen Sirivadhanabhakdi, who wants to expand Thai Beverage’s footprint in Southeast Asia………………………………………..Full Article: Source

Posted on 22 August 2012 by VRS |  Email |Print

Dutch brewer Heineken NV seems to have taken a leaf out of Thai billionaire Charoen Sirivadhanabhakdi’s books when it bought a mere 1.4% stake in its takeover target company Asia Pacific Breweries from Singapore state investment company Temasek Holdings Pte. Ltd. on Tuesday.
Although the acquisition of Temasek’s stake may seem quite small compared to the huge amount Heineken is shelling out to take control of APB, that small purchase could turn out to be a strategic move by the Dutch brewer in its quest to cover all its bases — including providing for the possibility of taking the maker of Tiger beer private………………………………………..Full Article: Source

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