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GIC Backs JustCo Co-Working Platform in Asia

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Singapore’s GIC Private Limited, Frasers Property Limited and Singapore-based JustCo jointly invest US$ 177 million to develop co-working platform across Asia. Frasers Property Limited is a listed Singapore-based national property company. The concept of flex-office spaces and co-working is appealing to a number of sovereign fund investors.

JustCo, which has a similar model to co-working companies like WeWork, has office spaces in Singapore, Indonesia and Thailand. The capital will be used to expand in markets such as South Korea, Vietnam, Japan, India, Australia and the Philippines.

JustGroup is the controlling entity of Justco. JustGroup received investment from Tikehau Capital Partners and Singapore-based Pinetree Capital Partners. Kong Wang Sing is the Founder and Chief Executive Officer of JustGroup. By 2015, he formed the unit JustCo. Before blazing his own trail at JustGroup, he was a Senior Associate Director at Mapletree Investments, a real estate unit at Temasek Holdings.

DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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Marsh & McLennan Companies to Acquire JLT Group

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Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. JLT’s largest shareholder, Jardine Matheson Holdings, and JLT directors who collectively represent 40.5% of the issued and outstanding JLT shares in support of the transaction.

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Indigo Ag Raises Series E Round

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Indigo Ag, Inc. raised US$ 250 million in a Series E funding round. The company is focused on creating innovative microbial products that increase crop yields in the face of environmental, disease, and pest stress. The investors in this round include Baillie Gifford, Investment Corporation of Dubai, the Alaska Permanent Fund Corporation, and the company’s founder, Flagship Pioneering. After the Series E, in total, Indigo has raised over US$ 650 million.

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