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Strategic Development: Mubadala and Boeing Together on Aerostructures and Military Sustainment

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According to the press release, “Boeing and Mubadala Aerospace, a business unit of the Abu Dhabi-based Mubadala Development Company, a business development and investment vehicle of the Abu Dhabi government, today announced agreements to advance the commercial and military aviation industry in the United Arab Emirates (UAE). These milestones further Abu Dhabi’s plans to become a global aerospace hub, a key part of the Emirate’s economic diversification plans, and grow the strong relationship between the two companies.

The commercial and defense agreements announced today build on a framework agreement Boeing and Mubadala Aerospace signed in November 2009 to show their commitment to develop mutually beneficial initiatives in areas where there is strategic alignment between the two companies. Future partnership initiatives could include additional manufacturing, military maintenance and sustainment activities, as well as people development and training.

“These strategic agreements represent the natural evolution of the longstanding military and commercial aerospace collaboration between Boeing and the UAE,” said Mubadala Aerospace Executive Director Homaid Al Shemmari. “Mubadala Aerospace is proud to expand this partnership with Boeing and feel that this agreement shows confidence in the outstanding results that Strata Manufacturing and AMMROC offer for its customers and partners.”

Jim McNerney, Chairman, President, and CEO of The Boeing Company, said: “These important agreements will strengthen the businesses of both Mubadala and Boeing. Building on the strategic framework we and Mubadala announced at the last Dubai Airshow, we are now demonstrating our solid commitment to our partner, the UAE and the Middle East region. These agreements are a reflection of Mubadala’s outstanding capabilities and pave the way for an ever stronger relationship in the years to come.””

Read more: Boeing Press Release

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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