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Suitors Shrink for Shell’s Australian Energy Assets

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Available suitors for Shell’s Australian oil assets are shrinking in a deal that could be worth US$ 3 billion. TPG Capital, Ontario Teachers’ Pension Plan (OTPP) and the Kuwait Investment Authority exited from the bid. This leaves Macquarie Group and Glencore Xstrata as one group and a consortium composing of Rotterdam-based Vitol SA and the Abu Dhabi Investment Council competing for Royal Dutch Shell’s refining and retail business. Assets include the Geelong refinery based in Victoria, import terminals and a network of 900-strong service stations.

Shell’s chief executive Ben van Beurden said in a statement the company is “making hard choices in our worldwide portfolio to improve Shell’s capital efficiency.”

The sales process is being managed by Bank of America Merrill Lynch.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

PGGM Executed its Inaugural Cleared Securities Lending Trade

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Service providers are keen on getting more beneficial owners to participate in the cleared securities lending market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Altitude Infrastructure Gets Financing on Haute-Garonne Network Project

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Altitude Infrastructure SAS inked a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne. Haute-Garonne is a department in the south of France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Guggenheim Partners Agrees to Acquire Millstein & Co.

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On July 11, 2018, Guggenheim Partners inked a deal to acquire New York-based Millstein & Co., L.P., an advisory firm formed by Jim Millstein. Millstein will become co-Chairman of Guggenheim’s securities business. Millstein & Co. will become part of Guggenheim Securities, the investment banking division of the company. Ronen Bojmel will lead the combined Guggenheim restructuring team.

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

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