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Mubadala and Dubai Aluminium Acquire Remaining Guinea Alumina Corporation Limited



According to the press release, “Global Alumina Corporation announced today that it has signed a share purchase agreement with DM GAV Limited, a company established and owned equally by Mubadala Development Company PJSC and Dubai Aluminium, to sell all of Global Alumina’s interests in Guinea Alumina Corporation Limited to DM GAV. Pursuant to the SPA, DM GAV will make a US$2 million advance payment to Global Alumina on signing of the SPA and will pay an additional US$36 million upon completion of the transactions contemplated by the SPA, which is scheduled to occur on or before August 31, 2013. A copy of the SPA will be available on the Company’s SEDAR reference page at

Coincident with this transaction, Global Alumina International Limited and The Broken Hill Proprietary Company Pty Limited “BHP Billiton” have agreed to terminate their share purchase agreement which was announced on November 1, 2012. Concurrent with this termination and execution of the SPA, DM GAV signed a share purchase agreement directly with BHP Billiton to buy all of BHP Billiton’s interests in Guinea Alumina.

Conditions to Completion include no objection having been received from the Government of Guinea, completion of DM GAV’s acquisition of BHP Billiton’s interests in Guinea Alumina and Global Alumina’s regulatory and shareholder approvals. These conditions must be satisfied by August 31, 2013 or the SPA may be terminated.

Global Alumina intends to use the US$2 million advance payment to fund accrued liabilities and ongoing corporate costs until Completion. Under the SPA, the Company has given limited representations and warranties some of which will survive for up to two years following Completion.”

Read more: Global Alumina Press Release

DP World and NIIF Joint Venture Embarks on First Investment



Hindustan Infralog Private Limited, the US$ 3 billion joint venture formed in January 2018 between DP World and the National Investment and Infrastructure Fund (NIIF) to invest in ports, logistics and warehousing, agreed to acquire 90% of Continental Warehousing Corporation (Nhava Seva) Limited for US$ 400 million. 10% is being retained by the company’s founders – the Reddy family. Adi Keshav Reddy is the founder of Continental Warehousing. This is the first investment of the Hindustan Infralog platform.

The sellers include Warburg Pincus India Pvt Ltd, International Finance Corporation (IFC) and Aureos Capital, a joint venture between the CDC and Norfund that was acquired by Abraaj Capital.

Barclays, Citi and Detusche Bank advised on the transaction.

Continental Warehousing was formed in 1997 and is one of India’s biggest container warehousing firms – operating container freight stations and private freight terminals across India. In April 2011, Warburg Pincus invested in Continental Warehousing, committing US$ 100 million. In December 2015, IFC invested US$ 25 million in equity and lent US$ 35 million in debt to Continental Warehousing.

In India, DP World has been operating container port terminals since 1997.

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SWFI First Read, March 18, 2018



Surbana Jurong and China Vanke Tie up Deal for Industrial Town Projects

Surbana Jurong, a real estate development company focused on urban projects, inked a deal with China Vanke to partner on new industrial towns in China’s midwest regions. Surbana Jurong is majority-owned by Singapore’s Temasek Holdings. The first joint project is Vanke’s Jianzhou Dream Town in Chengdu. Surbana will provide the design for this project.

PIF Eyes Hollywood Talent

Saudi Arabia’s Public Investment Fund (PIF) is looking at investing around a 7% stake in Endeavor, LLC, a talent agency holding entity of WME for a reported US$ 400 million. Ari Emanuel is the CEO of Endeavor. PIF’s financial advisor for this deal is Michael Klein & Co. Endeavor is being advised by Ares Holdings.

Alex Wilmot-Sitwell of BAML Resigns

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Mubadala Invests in No Fly Zone Drone Radar Company



Data Collective led a US$ 15 million Series A round into Salt Lake City-based Fortem Technologies, Inc., a company that works on solutions that can detect, identify and classify drones in real time to maintain airspace safety. Other investors in the round include Boeing, Mubadala Investment Company, Manifest Growth, New Ground Ventures and Signia Venture Partners.

Ibrahim Ajami, Head of Mubadala Ventures said in the press release, ” Mubadala is excited to work with Fortem and its outstanding leadership team to help grow its business to new markets.”

Ajami added, “We strongly believe the TrueView radar is essential to maintain a safe airspace for both the aircraft and the critical infrastructure on the ground.”

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