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French state nuclear giant Areva invites new investors

AFP reports that, “French state-controlled nuclear giant Areva said Tuesday it was opening its capital to new investors and would sell a subsidiary to raise money for massive investments in new nuclear technology.

The company also said it was considering the sale of its stakes in French metal mining group Eramet and Geneva-based computer chip maker STMicroelectronics. The Financial Times reported earlier that the French government was preparing a capital increase and could sell a 15-percent stake to Asian and Middle Eastern investors for two billion euros (2.8 billion dollars).

The FT reported Mitsubishi Heavy Industries (MHI), Areva’s Japanese partner, was set to take a stake in the French company. MHI told AFP it had not received an offer to buy a stake but would study such a proposal. The French government is also in talks with sovereign wealth funds such as Mubadala of Abu Dhabi over their participation in a capital increase, which will be launched later this year, the FT said. France produces most of its electricity from nuclear power and French energy groups like EDF, Total and GDF Suez have previously been touted as possible investors in Areva. The report comes amid growing interest in nuclear power around the world, sparked by fears of climate change, worries about the reliability of supplies from the Middle East and Russia and record high oil prices in 2008.”

read more: AFP

CIC Sells 10% Logicor Stake to Blackstone Fund

The China Investment Corporation (CIC) is selling a 10% stake of in European warehouse firm Logicor Ltd to a real estate fund managed by The Blackstone Group. Furthermore, CIC also hired Blackstone to oversee and manage Logicor’s warehouses and logistic properties portfolio.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Fintech Affirm Raises $200 Million in Series E Led By Singapore’s GIC

Affirm Inc., a financial technology firm which provides instant loans to consumers as an alternative to credit cards for their online shopping, has raised US$ 200 million in a Series E round lead by Singapore’s GIC Private Limited, with participation from Khosla Ventures, Lightspeed Venture Partners, Spark Capital, Caffeinated Capital, and Ribbit Capital. The new infusion of capital brings the San Francisco-based company’s total funding to US$ 450 million and a reported valuation of US$ 2 billion.

The company is founded by Max Levchin, a co-founder of PayPal (part of the PayPal mafia, dubbed by the tech press). Max Levchin is also an advisory board member of the Consumer Financial Protection Bureau (CFSB) in the United States.

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CHANGE: Saudi Arabia to Re-Open Movie Theaters, PIF Inks MoU with AMC

The Saudi Arabian government is ending its 35-year ban on cinemas. Next year, the government will allow cinemas to open. This watershed moment provides opportunities for entertainment companies to invest in Saudi Arabia and the surrounding region.

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