SWFI First Read, October 26, 2015

CPPIB and GIC Acquire Majority Stake in Brazilian Mall

The Canada Pension Plan Investment Board (CPPIB) and Singapore’s GIC Private Limited acquired a 66% interest in a São Paulo shopping mall from Rio de Janeiro-based mall operator Aliansce and another party for around US$ 90 million. Specifically, CPPIB and GIC are acquiring a 50% stake of Santana Parque for US$ 67 million from General Shopping, while together buying a 16% stake from Aliansce in Santana Parque for US$ 22 million. Veirano Advogados and Pinheiro Neto Advogados advised GIC and CPPIB on the transaction.

ECB Board Member Mersch Seeks a Single Platform for Processing Cash and Securities

At the October 2015 Sibos conference, European Central Bank (ECB) board member Yves Mersch stated the central bank is looking at having a single platform for the processing of cash and securities across the Eurosystem. Providers like Euroclear have been forming new ventures with financial institutions in order to assist firms in meeting collateral requirements.

US DOL Issues New Guidance as ESG

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