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Italy’s Mediobanca mulls Tunisia unit – source

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Reuters reports, “Italy’s Mediobanca SpA is planning to open a merchant bank in Tunisia, as it looks to broaden its reach to the Arab world, a source close to the situation said on Thursday. The plan, which would involve Mediobanca owning a 30 percent stake in the new bank, was discussed at a board meeting on Tuesday, the source said, confirming a report in Italy’s Il Sole 24 Ore.

“It does not require significant capital investments,” the source told Reuters, adding the plan was in line with the Italian bank’s plans to expand internationally.

Mediobanca, which has no subsidiaries in the Arab region, would team up with local partners, the source said.

The Libyan Arab Foreign Investment Company (Lafico) and BIA Banque, which is co-owned by Banque Exterieure d’Algerie and the Libyan Foreign Bank, would take around 5 to 10 percent in the bank, the source said.”

Read more: Reuters

Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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