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Libya Looks at Taking Stake in Italy’s Enel

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According to the Wall Street Journal, “Libya’s sovereign-wealth fund may take a minority stake in Enel SpA as part of the Italian utility’s planned capital increase, according to Enel’s chief executive and Libya’s ambassador to Italy. In an interview, Enel CEO Fulvio Conti said the Libyan Investment Authority had recently expressed interest in taking a minority stake in the Italian utility. The fund could either buy shares in the open market or subscribe to an €8 billion ($10.9 billion) capital increase that Enel is planning in order to cut its debt load, Mr. Conti said.

‘We would welcome their ideas. It is premature to say how much and if and when they would participate,’ Mr. Conti said.

Mr. Conti has been making the rounds with investors in recent weeks to drum up support for the capital increase. A week ago, the executive traveled to Libya to make a presentation about Enel to Abdulhafid Zlitni, head of the LIA, said Hafed Gaddur, Libya’s ambassador to Italy.”

read more: Wall Street Journal

Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

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

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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