SWFI First Read, December 4, 2016

Image Credit: BBC Video

Italian Prime Minister Matteo Renzi, Image Credit: BBC Video

Italian Prime Minister Matteo Renzi said he will resign after a defeat in a referendum over his plan to reform the constitution. “The ‘no’ won in an incredibly clear way,” Italian Prime Minister Matteo Renzi said from the Chigi Palace.

Lukoil Sells Arkhangelsk Diamond Mine

Moscow-based Lukoil, a giant Russian oil company, sold its subsidiary Arkhangelskgeoldobycha to company Open Holding for US$ 1.45 billion for cash. The deal is expected to be completed in the first quarter of 2017. Arkhangelskgeoldobycha operates the Grib mine which is located in Arkhangelsk Oblast. The company had operated the Grib mine since 2014. In 2015, Lukoil had diamond sales of US$ 162 million. Most of Lukoil’s diamond output is sold through its Antwerp-based Grib Diamonds unit.

PGGM and Foncière Atland Form Office Venture

PGGM and Paris-based Foncière Atland, a real estate investment trust, formed a €250 million office joint venture that will target the Paris and Ile-de-France region office markets. The joint venture already acquired its inaugural property. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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