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Maple Group Extends Offer to Buy TMX Group

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Maple Group Acquisition Corporation is comprised of thirteen Canadian financial institutions and pension funds. The collection of investors has extended their offer to acquire a minimum of 70% and a maximum of 80% of TMX Group shares in concert of an integrated deal. The total valued transaction at 100% shares is $3.8 billion. The offer is being extended till September 30, 2011. Maple Group Acquisition Corporation is confident it will pass Canadian regulatory hurdles.

If the deal goes through, Maple Group Acquisition Corporation wants to maintain the exchange’s presence in Canada and create operational efficiencies through technology.

Maple Group is the last man standing in terms of buying out TMX, as the London Stock Exchange did not garner enough TMX shareholder approval.  TMX Group has performed well recently. In the first calendar quarter of 2011, it had a profit margin of 36.2% based in USD. NYSE Euronext’s profit margin in the same time period was 14.07%.

  • About Maple Group Acquisition Corporation
  • Alberta Investment Management Corporation
  • Caisse de dépôt et placement du Québec
  • Canada Pension Plan Investment Board
  • CIBC World Markets Inc.
  • Desjardins Financial Group
  • Dundee Capital Markets Inc.
  • Fonds de solidarité des travailleurs du Québec (F.T.Q.)
  • GMP Capital Inc.
  • National Bank Financial Inc.
  • Ontario Teachers’ Pension Plan
  • Scotia Capital Inc.
  • TD Securities Inc.
  • The Manufacturers Life Insurance Company

Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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