SWFI First Read, December 4, 2016
Italian Prime Minister Matteo Renzi, Image Credit: BBC Video
BREAKING NEWS 4:40 PM PST
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. ]
Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.
Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.
-
Sponsor Content2 weeks agoDanske Bank: A Fall From Grace
-
2 weeks agoNorway SWF Scales Back Private Properties, Allows Listed Real Estate
-
2 weeks agoNorway Sovereign Fund Gets Tougher on Executive Compensation
-
2 weeks agoAsian AUM: Schroders Buys Thirdrock Group’s Wealth Management Business
-
2 weeks agoJapan’s GPIF Has Rough Third Fiscal Quarter 2018
-
3 weeks agoChina’s One-Belt, One-Road Encounters Rough Waters in Greece
-
2 weeks agoQIC and Northeastern University Broker Campus Parking Lot Deal
-
2 weeks agoLibyan Investment Authority Chairman Detained, Wealth Fund Supports Chairman