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Oman India Joint Investment Fund Invests in ING Vysya Bank Ltd

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The Oman India Joint Investment Fund (OIJIF), the co-investment vehicle between Oman’s State General Reserve Fund (SGRF) and the State Bank of India, has undertaken a number of deals in India. In late July 2013, the joint venture fund acquired a small stake of less than 1% in Indian-lender ING Vysya Bank Ltd. The Bangalore-based bank is part of ING and is a publicly-traded stock.

Oman-India bilateral economic ties continue to strengthen as Omani capital flows into India. India’s robust information technology sector has provided services to businesses in Oman. For example, India expatriates in Oman exceed 600,000.

Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank

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In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund

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Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables

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Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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