SWFI First Read, May 23, 2016

Posted on 05/23/2016

Bayer Bids for Monsanto

Leverkusen-based Bayer AG put out an unsolicited US$ 62 billion all-cash offer to acquire St. Louis-based Monsanto Co.

Altico Capital Closes on 2 Indian Residential Deals

Altico Capital, a non-banking finance company backed by Clearwater Capital Partners, Abu Dhabi Investment Council and Varde Partners, closed two real estate deals in India. Altico Capital closed a Rs 80 crore deal with Mumbai-based Shree Sai Group for a residential development called “The Nest” in Andheri West. The other residential project, Arena I, is a Rs 50 crore transaction with Noida-based Lotus Greens group located in Noida.

Claude Sirois Promoted to President of Ivanhoé Cambridge Retail

Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), named of Claude Sirois as President, Ivanhoé Cambridge Retail. He was Executive Vice President, Shopping Centres, North America, Ivanhoé Cambridge. The retail division is the biggest business unit in Ivanhoé Cambridge.

CIBC Mellon President to Retire End of Year

The President and CEO of CIBC Mellon, Thomas S. Monahan, plans to retire at the end of 2016. A transition plan is being formed as no successor has been named yet. CIBC Mellon, is a 50:50 joint venture between Canadian Imperial Bank of Commerce (CIBC) and BNY Mellon. It was originally formed in 1996 between CIBC and Mellon Financial Corporation.

Total and Oil Search to Split Up Assets in InterOil

Paris-based Total SA and Oil Search Ltd. are splitting up the Papua New Guinea assets of Papua New Guinea-based InterOil Corporation, an independent oil and gas business, in a 2-step transaction. Oil Search will acquire 100% of the assets of InterOil Corporation for US$ 2.2 billion. After that deal, Oil Search will then sell the majority of the acquired gas and exploration assets to Total for approximately US$ 1.2 billion up front. Since 1929, Oil Search has operated in Papua New Guinea. The financial advisors for Oil Search regarding these deals are Goldman Sachs and Macquarie Group. InterOil was advised by Morgan Stanley, Credit Suisse and UBS Group.

People’s Bank of China Names Zhang Tao as Deputy Governor

China’s State Council named Zhang Tao as deputy governor of The People’s Bank of China (PBOC). Before the promotion, Zhang Tao was in charge as director general of PBOC’s legal affairs department. Previously, he was the International Monetary Fund’s (IMF) executive director for China from 2011 to 2015. He worked at the PBOC post-2004, in a number of roles, including in the international office and deputy director general of research. From 1997 to 2004, Zhang Tao was a senior economist at the Asian Development Bank (ADB). From 1995 to 1997, he was an economist at the World Bank. Zhang earned a doctorate and master’s degree in international economics from the University of California, Santa Cruz.

Possible Shrinkage of the Red Light District in Amsterdam

Amsterdam-based Syntrus Achmea Real Estate & Finance B.V. is mapping out a strategy regarding a €300 million makeover of Amsterdam’s red light district, as residential housing in the city is in high demand. Stadgenoot, a public benefit housing corporation, and Amsterdam’s city council wants to somewhat transform the red light district into residential housing and add diversity to retail. Syntrus Achmea is seeing this PPP project as a possibility for pension funds to invest.

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