On April 7th, in London’s financial center, was a confluence of wealth, forecasts and discussions as Dubai officials met with international bankers and institutional investors. These “roadshow” meetings came ahead of Dubai World’s annual creditor meeting. Government officials reiterated that pre-crisis, pro-growth measures were not a regret and the area is set for another boom.
Chief Executive Mohammed al-Shaibani of the Investment Corporation of Dubai told the audience at Deutsche Bank’s London offices, “If Dubai had to do the same again, most likely we would follow the same approach.”
Al-Shaibani contended that massive Dubai investment between 2006-2008 had helped jumpstart Dubai as a key financial center.
Emirates Global Aluminium
On the same day, the Investment Corporation of Dubai and the Mubadala Development Company incorporated Emirates Global Aluminium (EGA), the jointly-owned aluminium company formed by integrating the two shareholders’ interests.
The new joint venture has two core operating entities, Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL). Emirates Global Aluminium will be chaired by Khaldoon Khalifa Al Mubarak and the vice-chair will be Saeed Mohammed Al Tayer.
According to the EGA press release, EGA CEO and Managing Director Abdulla Kalban stated, “I would like to extend our gratitude to the shareholders for their support in establishing this global business. This is a proud day for EGA’s highly-skilled employees, who represent a company led by UAE Nationals using technology that is unique to our company and the industry. Combining the strengths of DUBAL and EMAL creates a national champion for technological innovation and business performance excellence.”
Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.
Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.
Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.
In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.
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The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.
In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.
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