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Sovereign Funds Look to Sell Movies and Assets

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UPDATE: On July 19, Neptune Orient Lines made a statement that it has not made any decision on a potential sale of the company, nor entered into any agreement regarding a sale.

With sovereign funds spending tens of billions every quarter directly on companies, real estate and other assets, there comes times when these asset owners desire to sell. According to various sources, Singapore’s Temasek Holdings has put up its US$ 1.7 billion container shipping company, Neptune Orient Lines Ltd., up for sale. Temasek has a 65% stake in Neptune Orient Lines, the other 35% of ownership trades on the Singapore Stock Exchange. Neptune Orient Lines Ltd.’s market capitalization is approximately S$ 2.3 billion (US$ 1.7 billion). Founded in 1968, Neptune Orient Lines was Singapore’s national shipping line. At one point there were merger talks between either Hong Kong’s Orient Overseas (International) Ltd. or Hamburg-based Hapag-Lloyd AG. Industry consolidation is being prompted by overcapacity in global shipping. In 2014, Hapag-Lloyd merged with Chile’s Compañía Sud Americana de Vapores SA (CSAV), creating the world’s fourth biggest container shipper.

Miramax Up For Sale

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PNB to Buy Stake from Malaysian Developers in Battersea Power Station Project

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Malaysia-based Permodalan Nasional Bhd (PNB) inked plans to acquire a stake in the Battersea Power Station from Malaysian developers Sime Darby Property and SP Setia, which between them own 80 percent of the site located on the south bank of the Thames. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Will Saudi Arabian Sovereign Wealth Be the Next Giant in Hollywood?

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Saudi Arabia’s growing Public Investment Fund (PIF) is reportedly looking into investing over US$ 500 million for a 5% to 10% stake in Hollywood’s Endeavor Talent Agency, the holding company for William Morris Endeavor Entertainment LLC (WME). WME is one of the biggest players in the business, representing well-known artists across a number of different mediums – including cinema, television, music, books, and theatre – as well as a roster of professional athletes from the National Football League (NFL) and National Hockey League (NHL). Discussions are in their initial stages, however, and no commitments have been made thus far. WME is constantly gather new talent. Recently WME signed musician John Mayer and actor Nicolas Cage – both were with Creative Artists Agency (CAA).

A Logical Connection

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AIMco Extends Loan Increase to Razor Energy

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Calgary-based Razor Energy Corporation, a listed junior oil and gas company, locked in an increase of C$ 15 million regarding its non-revolving term loan facility from the Alberta Investment Management Corporation (AIMCo). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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