Connect with us

Precision Capital and Luxembourg to Acquire Dexia Banque Internationale à Luxembourg

Published

on

According to the press release, “Dexia, Precision Capital and the State of the Grand Duchy of Luxembourg announce that they have entered into a binding memorandum of understanding on the acquisition by Precision Capital and the Grand Duchy of Luxembourg of the 99.906% stake in Dexia Banque Internationale à Luxembourg S.A. owned by the Dexia Group.

Precision Capital, a Qatari investment group, will acquire 90% of the stake, the remaining 10% will be acquired by the Grand Duchy of Luxembourg.  The transaction price values 100% of the shares in Dexia Banque Internationale à Luxembourg at EUR 730 million.

The participation of Dexia Banque Internationale à Luxembourg in Dexia Asset Management Luxembourg and RBC Dexia Investor Services Limited will be disposed of separately. The portfolio of Legacy securities of Dexia Banque Internationale à Luxembourg as well as its stakes in Dexia LDG Banque and Parfipar will be transferred to Dexia prior to the closing of the transaction. The parties will negotiate the final legal documentation of the transaction in the coming weeks. The transaction remains subject inter alia to all required regulatory approvals, including approval by the European Commission. Dexia will keep the social partners duly informed. The sale of Dexia Banque Internationale à Luxembourg is one of the disposals that were contemplated by the Dexia Group as announced on 20 October 2011.”

Read more: Dexia Press Release

Angolan Government Cancels Port Concession, Reviews Others

Published

on

Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Egyptian Parliament Passes Draft Law on Misr Fund

Published

on

Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Capital Constellation Backs Middle Market PE Platform

Published

on

Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.