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SWFI First Read, December 28, 2016

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Actis Disposes Remaining Stake in Umeme

London-based Actis, through its holding entity Umeme Holdings Limited (UHL), disposed its entire 14.3% minority stake, some 232,214,521 shares, in Uganda-based Umeme Ltd, an electricity distribution and supply company. Actis sold an over-subscribed block of 12% in Umeme to institutional investors including the Uganda National Social Security Fund (NSSF) as well as a number of international funds; subsequently, the remaining 2.3% stake was offered to domestic retail investors and Umeme management. In 2005, Actis, through UHL, originally invested in Umeme. In November 2012, UHL sold 39.9% of its stake in Umeme through an initial public offering (IPO) on the Uganda Securities Exchange. As of June 30, 2014, the Uganda National Social Security Fund had 231,722,771 shares in Umeme, owning 14.27% of Umeme at the time.

QIA Seeks to Refinance Milan Porta Nuova Properties

The cash-rich Qatar Investment Authority (QIA) has extensive exposure to a number of large properties in Milan. The QIA seeks to refinance its debts on two Milan properties in Porta Nuova, Milano Porta Garibaldi and Varesine. QIA has around a €1 billion in lines of credit from several banks including Banca Intesa Sanpaolo, Banca Popolare di Milano, BNP Paribas, and UniCredit. Mediobanca is the financial advisor for QIA regarding the refinancing.

Toshiba Corporation to Face Massive Write-Down on U.S. Nuclear Unit

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

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