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Friday SWFI News Roundup, May 1, 2015

Abu Dhabi Investment Council Decreases Ownership in Canadian Retailer

Abu Dhabi Investment Council (ADIC), through its sovereign wealth enterprise Hanover Investments (Luxembourg) S.A., sold off shares of Hudson’s Bay Company at a price of $27.25 per common share. This is approximately 5.8% of the outstanding common shares on a non-diluted basis pursuant to a secondary offering. This deal happened on April 28, 2015. Following the offering, ADIC owns approximately 14.8% of the outstanding common shares on a non-diluted basis in Hudson’s Bay Company. ADIA and Ontario Teachers’ Pension Plan (OTPP) took in US$ 363.5 million from the secondary sale.

Singapore’s GIC Gets RQFII Quota

China’s foreign currency regulator, the State Administration of Foreign Exchange (SAFE), granted Singapore’s GIC a 5 billion yuan (US$ 800 million) quota. Vanguard’s Australian investment arm was granted a 10 billion yuan quota. In total, SAFE granted 30 billion yuan of investment quota to 11 funds through its Renminbi Qualified Foreign Institutional Investor (RQFII) program.

Temasek Looks Into Solusi Tunas Pratama

Singapore’s Temasek Holdings is rumored to be investing in a secondary share issue of PT Solusi Tunas Pratama. Solusi is a listed telecommunications tower operator partly owned by private equity firm Carlyle Group.

CPPIB and GIC in Talks for 02 and Three Holding Company Deal

The Canada Pension Plan Investment Board (CPPIB) and Singapore’s GIC Private Limited, which are in the 2014 top 10 of being the most active direct public investors according to the Sovereign Wealth Fund Transaction Database, are nearing a deal to buy a minority stake in a holding company that owns O2 and Three. In March, Li Ka-shing’s Hutchison Whampoa bought Spain-based Telefonica SA’s O2 unit for £10.25 billion – an initial sum of £9.25 billion in cash. The rest is to be paid contingent on set financial targets.

ADIA and Others Sue Norway Over Gassled Tariff Issues

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SWFI First Read, November 19, 2017

Mubadala Petroleum Sees Opportunities in Mexican Upstream and Downstream

Mubadala Petroleum, a unit of Mubadala Investment Company, is studying investment opportunities in Mexico. The opportunity set is both in upstream in oil production, or in downstream sectors. Mubadala recently invested heavily in the Gulf coast.

OMERS-Backed CEDA International Corporation Acquires Joe Loomis Trucking

In 2005, Borealis Infrastructure, a unit of OMERS, had acquired CEDA International Corporation (then known as CEDA Holdings Limited) from Precision Drilling Corporation for C$ 274 million. CEDA International Corporation was moved into the portfolio holdings of OMERS Private Equity, another unit of OMERS. On November 16, 2017, CEDA International Corporation acquired Dawson Creek, British Columbia-based Joe Loomis Trucking Limited.

IMF Believes Kuwait Government Needs $100 Billion Over Next 5 Years for Gross Financing Needs

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Ontario Teachers’ Takes to the Seas with Atlantic Aqua Farms Acquisition

The Ontario Teachers’ Pension Plan (OTPP) has made its first investment in the rising aquaculture industry with the acquisition of Orwell Cove-based Atlantic Aqua Farms, Inc. (AAF) and its affiliated entities from San Francisco-based private equity firm Encore Consumer Capital, through its Encore Consumer Capital Fund L.P., for an undisclosed amount. Estimates of the deal’s value, however, place it at over C$ 100 million. Encore Consumer Capital put AAF for sale back in March 2017.

Based out of Canada’s Prince Edward Island, AAF is the largest grower and processor of the region’s famed blue mussels under the brand names Canadian Cove, Confederation Cove, and J.P.’s shellfish. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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UAE Prepares ADNOC Distribution IPO

The Abu Dhabi National Oil Company (ADNOC) embarked on plans to sell a minority stake of 10% or more in its fuel distribution unit in an initial public offering on the Abu Dhabi Securities Exchange (ADX) scheduled for December of 2017. ADNOC Distribution is the largest fuel distributor in the United Arab Emirates with 67% of the market share by number of retail service stations and benefits from a “stable and predictable” market-pricing regime, according to a company statement.

The offering will consist entirely of existing stock held by ADNOC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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