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Finmeccanica and Libyan Investment Authority sign a Memorandum of Understanding for a strategic cooperation in Africa and the Middle East

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Press release states, “Finmeccanica, the Italian leading aerospace, defense and security company and the Libyan Investment Authority (“LIA”), the Libyan sovereign wealth fund, and Libya Africa Investment Portfolio(“LAP”), an Investment Fund owned by LIA, share the view that Libya and the Middle East and Africa countries will offer, in the near future, significant investment opportunities in a broad range of industrial sectors in which Finmeccanica is present at a global level and they intend to leverage on their joint capabilities to access new markets working with local customers and partners.

In this context, Finmeccanica, LIA and LAP have today signed a Memorandum of Understanding (MoU) for the development of a strategic cooperation in Libya and other countries in the Middle East and Africa regions. Under this MoU investment opportunities will be pursued in the aerospace, electronics, transportation and energy sectors for civil applications.

The MoU envisages the creation within a year of a Joint Venture Company, 50% held by each of Finmeccanica and LAP, and governed by Shareholders Agreements to be entered into. The Joint Venture Company will be the main vehicle of the joint business initiatives and will be able to invest in the specific commercial and industrial initiatives by setting up dedicated companies in the relevant countries. Finmeccanica can involve the Joint Venture Company as preferred business partner in initiatives in which Finmeccanica will take a direct leading role.

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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State Street to Buy Charles River Systems

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State Street Corporation inked a deal to acquire Charles River Systems, Inc. (Charles River Development), a provider of investment management front office tools and solutions. Under the terms of the agreement, State Street will purchase Burlington, Massachusetts-based Charles River Development in an all-cash transaction for US$ 2.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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FINMA Announces Rothschild Bank Broke Anti-Money Laundering Rules over 1MDB Fiasco

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The Rothschild Bank AG and one of its units called Rothschild Trust (Schweiz) AG got slapped with serious violations of anti-money laundering in regard to the 1MDB scandal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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