QHG Oil Ventures Representatives Nominated to Rosneft Board
On June 22, 2017, Rosneft held its annual shareholder meeting in Sochi. Two new board members were nominated to represent the interests of QHG Oil Ventures, the holding company owned by Glencore and the Qatar Investment Authority (QIA). One is Ivan Glasenberg Chief Executive Officer of Glencore International AG (Glencore plc). The other member nominated to Rosneft’s board is Faisal M. Alsuwaidi, President of Research and Development at Qatar Foundation.
AIIB Board Approves Madagascar, Argentina and Tonga
The Asian Infrastructure Investment Bank (AIIB) will have new members including the countries of Madagascar, Argentina and Tonga. AIIB’s board of directors had approved the applications of the mentioned countries. The countries will officially join the AIIB once a few processes are completed including a first installment of capital with the bank.
Alison Harding-Jones Joins Citigroup
Citigroup hired Alison Harding-Jones as head of Europe, Middle East and Africa (EMEA) M&A and vice chairman of EMEA corporate and investment banking. Harding-Jones will be based in London. Previously, she was Head of Asia Pacific M&A at UBS Group AG.
Former Barclays Executive John Varley Steps Down from BlackRock Board of Directors
John Varley, an independent director of BlackRock, has resigned from the company’s board of directors effective immediately. Varley had joined BlackRock’s board in 2009, after BlackRock acquired Barclays Global Investors (BGI). At the same time, John Varley had also resigned from the board of Rio Tinto.
Varley was charged by the UK Serious Fraud Office (SFO) over Barclays dealings with Qatar back in 2008. Varley could face a maximum prison sentence of 22 years.
Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.
Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.
Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.
In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.
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The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.
In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.
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