SWFI First Read, June 20, 2017

Landmark Merger Approved by Shareholders of Standard Life and Aberdeen Asset Management

The merger between Standard Life and Aberdeen Asset Management is going through as shareholders overwhelmingly approved the deal. More than 98% of Standard Life shareholders and more than 95% of Aberdeen shareholders approved of the merger. The new company will be called Standard Life Aberdeen and be run by Keith Skeoch and Aberdeen executive Martin Gilbert. The firm will be Europe’s second biggest fund manager.

Related Companies, Vornado Realty Trust and Skanska Back James A. Farley Post Office Redevelopment

Related Companies, Vornado Realty Trust and Skanska agreed to a US$ 1.6 billion deal with the Empire State Development Corporation to convert the James A. Farley Post Office into a train hall and commercial complex. The developers are kicking in US$ 630 million. US$ 550 million is coming from the Empire State Development Corporation, US$ 105 million from Amtrak, US$ 100 million from the Metropolitan Transportation Authority, US$ 150 million from the Port Authority of New York & New Jersey and US$ 65 million from U.S. federal grants.

Temasek Holdings Leads Series C Round in ClassPass

New York-based ClassPass, a fitness class subscription service, raised US$ 70 million in Series C funding. Leading the investment round was Singapore’s Temasek Holdings. Other investors and return backers include Thrive Capital, CRV, Acequia Ventures, General Catalyst, GV and M13.

Local Kuwaiti Daily Reports KIA Withdrew $1.1 Billion in Treasuries in April

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