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Caisse des Dépôts and Qatar Holding Create MoU for French SMEs

According to the press release, “Caisse des Dépôts and Qatar Holding LLC today announces the signing of a Memorandum of Understanding (MOU) to co-invest in small and medium enterprises (SME) based in France.

Under the terms of the MOU, a joint partnership will be established with €300 million of capital. Both MOU partners will each contribute to equity capital equally. It is expected that the partnership will invest in French SMEs engaged in sectors with high growth potential and where both Qatar Holding LLC and Caisse des Dépôts have common interests. Representatives of both MOU partners will oversee the establishment of the joint partnership, including its governance processes. It is envisaged that the combination of Qatar Holding LLC and Caisse des Dépôts in a partnership will create a resource pool that will boost the development of French SMEs.”

Read more: Qatar Holding Press Release

Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

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bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

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Digital Insurance Distributor BGL Opts for CPPIB Money Over IPO

Canada Pension Plan Investment Board (CPPIB) is investing £675 million (US$ 895.715 million) for a 30% stake in Peterborough-based BGL Group, a digital distributor of insurance and household financial services to 8.5 million customers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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