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Dubai Airshow Attracts Sovereign Wealth Capital

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uaeMubadala Development Company has inked a pair of US$ 2.5 billion deals at the 2013 Dubai Airshow to provide advanced composites to both Boeing and Airbus, according to statements made by the respective companies.

Airbus
Mubadala and Airbus have signed agreements to augment their participation in relation to aerostructures manufacturing. The deal builds on agreements already held between the two organizations. In the agreement, Airbus has made further commitments to award work to Strata, Mubadala’s advanced composited aerostructures manufacturing plant. Strata has already completed work for several Airbus aircrafts.

Airbus has also agreed “to procure composite raw material from Mubadala, upon commencement of production from a proposed raw materials manufacturing facility to be established in Abu Dhabi,” said Mubadala in a statement.

Boeing
Mubadala will also have the chance, through Strata, to supply US$ 2.5 billion worth of advanced composites and machined metals for use in Boeing’s 787 and 777X.

“Today’s agreement further strengthens our relationship with Boeing, and provides an important platform as we continue to develop our role as a significant supplier to Boeing of composite aerostructures, and develop Strata into a major Tier 1 industry supplier,” said Homaid Al Shemmari, Executive Director of Mubadala Aerospace, Communications Technology & Defense Services.
In addition, Boeing is agreeing to work with Mubadala to develop pre-preg and carbon fiber manufacturing capabilities which will, “will support the ongoing development of the aerostructures industry and create raw-materials capabilities in the United Arab Emirates,” Boeing said in a statement.

In a separate agreement, Boeing’s Command, Control and Communications Solutions division agreed to provide low-profile aeronautical SATCOM antennas to Al Yah Satellite Communication Company PJSC, a fully-owned joint stock company of Mubadala.

Purchases
Abu Dhabi-based Etihad Airways announced a few deals of its own at the Dubai Airshow. According to its website, the order for 143 new aircraft includes “25 next-generation Boeing 777X aircraft, 30 Boeing 787-10 Dreamliners, one Boeing 777 freighter, 50 Airbus A350 XWB, 36 Airbus A320neo family aircraft and one Airbus A330-200F.” Passenger aircraft deliveries are slated to begin in 2018. The deals also include 56 further options and purchase rights.

PNB to Buy Stake from Malaysian Developers in Battersea Power Station Project

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Malaysia-based Permodalan Nasional Bhd (PNB) inked plans to acquire a stake in the Battersea Power Station from Malaysian developers Sime Darby Property and SP Setia, which between them own 80 percent of the site located on the south bank of the Thames. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Will Saudi Arabian Sovereign Wealth Be the Next Giant in Hollywood?

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Saudi Arabia’s growing Public Investment Fund (PIF) is reportedly looking into investing over US$ 500 million for a 5% to 10% stake in Hollywood’s Endeavor Talent Agency, the holding company for William Morris Endeavor Entertainment LLC (WME). WME is one of the biggest players in the business, representing well-known artists across a number of different mediums – including cinema, television, music, books, and theatre – as well as a roster of professional athletes from the National Football League (NFL) and National Hockey League (NHL). Discussions are in their initial stages, however, and no commitments have been made thus far. WME is constantly gathering new talent. Recently WME signed musician John Mayer and actor Nicolas Cage – both were with Creative Artists Agency (CAA).

A Logical Connection

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CDPQ Providers Firepower for Blackstone Buyout of PIRET

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Ivanhoé Cambridge, part of CDPQ, is a co-investor in Blackstone Group’s buyout of Pure Industrial Real Estate Investment Trust (PIRET), a listed Canadian warehouse owner. The actual Blackstone buyer is an affiliate of Blackstone Property Partners, its core real estate investment unit. The agreement was revealed on January 9, 2018. Blackstone moved to buy the REIT) for C$ 8.10 per Unit in an all-cash transaction valued at C$ 3.8 billion including debt. The transaction value without debt is C$2.48 billion.

Deal Advisors

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