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Friday SWFI News Roundup, August 15, 2014

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Malaysian Airlines to be Fully Acquired by Khazanah Nasional

The plagued Asian airlines, Malaysia Airlines, is going to be taken private by Khazanah Nasional, the country’s sovereign wealth fund. The carrier has suffered tremendously after two key disasters in a four month span. Khazanah is currently the largest shareholder in the airlines with a 69% interest. The sovereign fund was keen on paying RM 1.4 billion (US$ 436 million) to buy out the remaining shareholders. Once Khazanah finalizes acquiring the shares, Malaysian Airlines will be delisted from Bursa Malaysia.

Rosneft Asks Russian Government for Sovereign Wealth Lifeline

Russian oil giant Rosneft is facing pressure from Western sanctions. CEO Igor Sechin has asked the Russian government for 1.5 billion roubles, essentially having the National Welfare Fund purchase Rosneft bonds. The oil giant has billions in neet debt, mostly stemming from the acquisition of oil company TNK-BP in 2013. TNK-BP was Russia’s third-largest oil producer.

Tanzania to Create Special Unit to Watch Over Gas Revenue

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Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank

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In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund

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Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables

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Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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