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Straumann Investor Sells a 10% Stake to Singapore’s GIC

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The press release states, “Straumann Holding AG has been informed by two of its existing shareholders about a transaction involving a 10% block of registered shares. Dr h.c. Thomas Straumann, who is the major shareholder and Vice Chairman of the Board, has sold the shares to the Government of Singapore Investment Corporation Pte. Ltd. (GIC), bringing the two parties’ respective stakes to 17% and 14% of the total share capital of Straumann Holding AG.

Thomas Straumann commented: “The prevailing weak economic environment has made it necessary to reallocate funds in order to support and meet my investment commitments in other areas. My belief in the long-term future of Straumann is undiminished, and I have every confidence in its business fundamentals, people, and strategy. Straumann remains my core investment, and I fully intend to continue contributing to its direction as a principal shareholder for the long-term.”

In addition, Dr Straumann has agreed to a one-year lock-up period, during which he will not reduce his stake.

GIC has also expressed its long-term shareholder interest in the company. GIC was established in 1981 and is one of the world’s leading sovereign wealth funds. Its aim is to achieve good long-term returns for its owner, the Government of Singapore.”

Read more:Press Release

Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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State Street to Buy Charles River Systems

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State Street Corporation inked a deal to acquire Charles River Systems, Inc. (Charles River Development), a provider of investment management front office tools and solutions. Under the terms of the agreement, State Street will purchase Burlington, Massachusetts-based Charles River Development in an all-cash transaction for US$ 2.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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FINMA Announces Rothschild Bank Broke Anti-Money Laundering Rules over 1MDB Fiasco

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The Rothschild Bank AG and one of its units called Rothschild Trust (Schweiz) AG got slapped with serious violations of anti-money laundering in regard to the 1MDB scandal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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