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Inmet Amends Subscription Agreement for Purchase of $500 million of Subscription Receipts by Temasek’s SWE

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According to the press release, “Inmet Mining Corporation (“Inmet”) (TSX:IMN) announced today that it and Ellington Investments Pte. Ltd. (“Ellington”), an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited, have agreed to amend the subscription agreement between them under which 9,258,419 subscription receipts previously issued to Ellington can be exchanged for Inmet common shares.

Under the amended subscription agreement, each subscription receipt will now be exchangeable for 0.840283 of an Inmet common share, representing a subscription price per Inmet common share of $64.2699, or a 15 percent discount to the five day volume-weighted average price of Inmet common shares on the Toronto Stock Exchange as at December 22, 2010. The subscription receipts will now be automatically exchanged no later than 150 days after the coming into effect of legislation to amend the Code as described below. Upon exchange of the subscription receipts, Inmet’s issued and outstanding shares will increase to 69,328,750 common shares. Ellington will receive 7,779,692 Inmet common shares, that would represent approximately 11.2 percent of Inmet’s issued and outstanding common shares at that time, on a non-diluted basis.

Jochen Tilk, President and Chief Executive Officer of Inmet said, “The amendment to the subscription agreement reflects the strength of the relationship that we have established with Temasek as well as the confidence that Temasek has in Inmet and the Cobre Panama project. The additional timing is consistent with the expectation that legislation to amend the Panamanian Mineral Resources Code will be put forward early in 2011 as consistently indicated by the Panamanian government in its public statements.””

Read more: Inmet Mining Press Release

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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