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Europe Cools on Nuclear, Asian Investors Eye Urenco

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uraniumIn a post-Fukushima world, Europe has cooled interest in nuclear energy. The United Kingdom is privatizing noticeable state-owned entities and companies and seeks to continue the trend with nuclear fuel company Urenco.

Established in 1971, Urenco is a world leader in uranium enrichment. And due to the nature of its product, has legal restrictions on who can own it. Currently, the U.K. controls a ⅓ stake in the firm. E.ON and RWE (German utilities) together control another ⅓, and the remainder is owned by the Dutch finance ministry.

Nuclear energy is a tricky business, a veritable maze of government controls and policy. Ownership in Urenco is governed by the Treaty of Almelo. This treaty stresses that the enrichment of uranium is strictly a service activity and forbids the proliferation of material to make weapons of mass destruction (WMDs).[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Angolan Government Cancels Port Concession, Reviews Others

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Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Egyptian Parliament Passes Draft Law on Misr Fund

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Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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