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CIC Aims to Partake in Ground-Breaking Alaskan Natural Gas Deal

The State of Alaska oversees the Alaska Permanent Fund, which has historically benefited from oil, but in recent years the state has competed with lower oil output and lower-cost shale developments. Across the sea, the Chinese government is trying to pursue cleaner forms of energy such as natural gas over coal. If this holds true, China will have to import more natural gas.

China’s current energy composition is mostly coal and oil. Environmental concerns have prompted a government mandated move to natural gas and other clean sources of energy. In fact, Chinese President Xi Jinping’s address to the 19th Party Congress brought up “environment” at least 88 times.

Alaskan Governor Bill Walker has made significant strides into China in a bid to help breathe life into the state’s aging energy business. China Petrochemical Corporation (Sinopec) and the China Investment Corporation (CIC) have agreed to help develop Alaska’s gas sector. This deal was announced as part of U.S. President Donald J. Trump’s Asia tour, which stopped in Beijing. President Trump met with Chinese President Xi Jinping to discuss a host of issues including the trade imbalance between China and the United States.

Image Credit: State of Alaska

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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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