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Qatar Holding to become major shareholder of Hochtief

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The press release states, “HOCHTIEF Aktiengesellschaft welcomes Qatar Holding LLC (Doha) as new major shareholder: HOCHTIEF increases the capital stock of the company by around ten percent under exclusion of subscription rights of existing shareholders. After acquiring all new shares, Qatar Holding will – as soon as the capital increase is registered with the commercial register – hold almost 9.1 percent of the new capital stock. The Ad-hoc Committee of the HOCHTIEF Supervisory Board has approved the capital increase. Qatar Holding LLC is the strategic and direct investment arm of Qatar Investment Authority.

The capital increase will be carried out by partly making use of the authorized capital created at the HOCHTIEF General Shareholders’ Meeting on May 11, 2010, by issuing 6,999,999 no-par-value shares against cash contributions. According to the resolution of the General Shareholders’ Meeting, subscription rights of existing shareholders are excluded. The issue price is EUR 57.114 per share, resulting in an equity contribution of almost EUR 400 million to HOCHTIEF. “The cash inflow from the capital increase strengthens the financial position of HOCHTIEF. In addition, it provides latitude for the announced further growth after the planned bond issue had to be called off in mid-September,” says CEO Dr. Herbert Lütkestratkötter.”

Read more: Hochtief Press Release

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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