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Porsche board to mull offers from Qatar Investment Authority, Volkswagen

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AFP reports that, “the German luxury sports car maker Porsche has scheduled an extraordinary meeting of its supervisory board on July 23 to discuss offers by Qatar and Volkswagen, sources said on Friday. A Porsche spokesman confirmed the meeting, while a source close to the supervisory board said the Qatar and VW offers would be discussed. Invitations were extended by Wolfgang Porsche, head of the supervisory board, the spokesman said.

Heavily-indebted Porsche recently received an offer from the Qatar Investment Authority and has expressed confidence it would reach agreement on selling a direct stake in Porsche along with VW stock options.

A deal would allow Porsche to pay off some of the nine billion euros (12.6 billion dollars) in debt it accumulated trying to increase its holding in VW, the biggest European car maker. Porsche currently owns about 51 percent of VW. But VW has also made a counteroffer for 49 percent of Porsche’s core sportscar operations in a boardroom drama between the carmakers’ dominant influences, the Porsche and Piech families. Discussions with Qatar have been troubled by the dispute between the two groups.”

read more: AFP

QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

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

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