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Mubadala Buys out Hewlett-Packard’s Stake in IT Joint Venture

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Mubadala Development Company announced today it had bought out the remaining 40% stake in Injazat Data Systems from Palo Alto-based Hewlett-Packard, bringing the United Arab Emirates-based information technology service provider under its full ownership. The size of the deal was not disclosed. According to Mubadala’s press release, the deal demonstrates the UAE sovereign wealth fund’s commitment to actively investing in information and communication technology infrastructure and operations, highlighting economic growth and high-tech job creation for Abu Dhabi as the motivation behind investing in this sector.

“Taking full ownership of Injazat is another significant step in the growth and maturity of Mubadala in this sector as we build upon our portfolio of reliable and secure data storage solutions and establish a thriving ICT industry here in the UAE,” said Homaid Al Shemmari, CEO of Aerospace and Engineering Services at Mubadala, in the press release. “We look forward to working with HP on future endeavors and exploring other synergistic opportunities.”

Established in October 2002 as a public joint stock company (PJSC), Mubadala Development Company PJSC is a wholly-owned investment vehicle of the Government of the Emirate of Abu Dhabi, in the United Arab Emirates. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Mergermarket Gets Ready to be Sold

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Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.

Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.

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Why Japan Post Sees Promise in Aflac

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Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.

In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.

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

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RDIF and Development Agency of Serbia Agree to Explore Joint Investments

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The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.

In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.

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