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Kuwait, Brazil agree on establishing joint investment company

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According to the Kuwait News Agency, “Kuwait and Brazil agreed on establishment of a joint investment company, said Board Member of Kuwait Chamber of Commerce and Industry (KCCI) Sayer Al-Sayer here.

Al-Sayer said late on Saturday, after a banquet held by Brazil’s President in the honor of His Highness the Prime Minister of Kuwait Sheikh Nasser Al-Mohammad Al-Sabah, that the two countries agreed on preparing “an initial study for the establishment of the company.” He said the aim of the company will be to boost economic relations between Kuwait and Brazil, adding that it would also have positive effect on trade exchange between Kuwait and Brazil. Brazil is rich in oil, agricultural resources and livestock, he pointed out, noting that the country is due to host several crucial international events, namely international Olympic games and the World Soccer Cup — events that will contribute to reviving the national economy and impact in particular on the private sector, he noted.

The two countries will form a joint committee to prepare studies on the issue, he said, alluding to the accord. As part of His Highness the Prime Minister’s tour in Latin America, th KCCI is seeking to stress economic ties with the regional counties. Al-Sayer is heading KCCI’s delegation accompanying His Highness the Prime Minister.”

Read more: KUNA Press Release

APG, QIC, and Swiss Life Buys MIRA Stake in Brussels Airport

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APG Asset Management, QIC (Queensland Investment Corporation), and Zurich-based Swiss Life Group, spent about €2 billion for Macquarie Infrastructure and Real Assets’ (MIRA) 36% stake in Brussels Airport. APG and QIC will each have a stake of 16.8% in the airport asset with Swiss Life having a 2.4% ownership stake. QIC will hold its airport stake in its Global Infrastructure Fund, which has third-party investors. Since 2011, the Ontario Teachers Pension Plan (OTPP) still holds a 39% stake in the airport, while the Belgian government retains a 25% ownership stake.

APG Asset Management manages assets for a number of investors including Stichting Pensioenfonds ABP.

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CIC Seeks Allies for Belt and Road Cooperation Fund

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The China Investment Corporation (CIC), which indirectly controls China’s largest banks, is seeking allies to form a cross-border investment vehicle to support One-Belt, One-Road projects – also known as the Belt and Road Initiative (BRI). The CIC is calling it the Belt and Road Cooperation Fund. The fund’s size and specific investment methods are in the preliminary phase. The BRI has been underway for the last five years.

The multi-lateral fund will be another way to funnel capital into specific belt and road projects. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Fidelity National Information Services to Acquire Worldpay

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Jacksonville, Florida-based Fidelity National Information Services, Inc., better known by the abbreviation FIS, agreed to acquire payments processor Worldpay, Inc. for approximately US$ 35 billion (not including debt) in cash and stock, or US$ 112.12 per share. Around 19 months ago, Cincinnati-based credit card processor Vantiv, Inc. acquired Worldpay for just under US$ 10 billion, while FIS agreed to acquire First Data for US$ 22 billion in January 2019.

The combined company will keep the name FIS and be headquartered in Jacksonville, Florida. The transaction is subject to receipt of required regulatory and shareholder approvals and other customary closing conditions and is expected to close in the second half of 2019.

Deal Terms

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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