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French Government Said to Seek Areva Financing Accord This Week

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Bloomberg reports, “The French government is seeking commitments from Mitsubishi Heavy Industries Ltd. and the sovereign funds of Qatar and Kuwait to buy new shares in nuclear company Areva SA by the time the Areva board meets on Nov. 16, two people with direct knowledge of the talks said. The state, owner of 91 percent of Areva, may sell shares in two stages to avoid a delay into 2011, said one of the people, who requested anonymity because talks are private.

The sale to sovereign wealth funds may take place this year, while a deal with industrial partners may not happen until 2011 because talks about cooperation are more complex, the person said. Areva Chief Executive Officer Anne Lauvergeon has been pushing for the capital increase to help fund spending on plants and uranium mines. The company, whose finances have been hurt by construction cost overruns at a reactor in Finland, is seeking to fend off competition and sell more reactors and fuel in Europe, China and India. Failure to seal talks with Kuwait and Qatar by next week would drag the entire stock sale into 2011, the person said.”

Read more: Bloomberg

Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Korea NPS Co-Invested in Delaware Basin Assets with Morgan Stanley

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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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