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Mubadala releases 2008 annual report

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Some highlights of the report state, “Also included in the Annual Report is detailed information about Mubadala’s financial performance for the calendar year 2008 – a period of rapid business development. Mubadala’s total assets grew from AED39 billion in 2007 to more than AED54 billion by the end of 2008, representing an increase of 40 percent over the previous year. The company also saw sharp increases in revenues, up by more than 370 percent to AED6.7 billion compared to AED1.8 billion for 2007.

The strong performance was offset by the company’s cautious approach to the valuation of some investments as a result of the decline in Global stock-markets (the S&P 500 Index of leading stocks fell by more than 38% in 2008) and oil prices (which halved between January and December 2008, and ended the year more than two thirds down from their peak in July). This resulted in impairment charges for 2008 of AED8.8 billion spread across a wide variety of publicly and privately held investments in the USA and other markets and contributed to a loss of AED11.8 billion in 2008 against a profit of AED1.3 billion the year before.”

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HFF Finds a New Home in Jones Lang LaSalle

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Jones Lang LaSalle Incorporated (JLL) inked a deal to acquire Dallas-based HFF, Inc. JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of approximately US$ 2 billion. The transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets, Americas and Co-Chair of its Global Capital Markets Board. The transaction is expected to close in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

Transaction Details

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IFM, Polish Development Fund, PSA Acquire Gdansk Terminal

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The Polish Development Fund, known locally as Polski Fundusz Rozwoju S.A. (PFR), signed a deal to lead an investor group to acquire the largest container terminal in Gdansk from an infrastructure fund managed by Macquarie. The transaction is worth more than 5 billion zlotys (US$ 1.3 billion). DCT Gdansk is the only terminal in Baltic sea region that can serve Ultra Large Container Vessels, also known as UCLVs.

The Polish Development Fund and IFM Investors will each acquire a 30% stake in the Gdansk terminal, while PSA International Pte Ltd (which is owned by Temasek Holdings), will own 40% of the terminal.

Macquarie was advised by Goldman Sachs.

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Williams and CPPIB Create $3.8 Billion Venture in the Marcellus and Utica Basins

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Tulsa-based Williams Companies Inc. (Williams) disclosed a series of transactions that will establish a new platform for the optimization of its midstream operations in the western Marcellus and Utica basins through a long-term partnership with Canada Pension Plan Investment Board (CPPIB). This deal gives CPPIB more exposure to the North American natural gas market.

CPPIB Investment

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