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SWFI First Read, May 29, 2017

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CIC Appears to be in Front for Logicor Deal

Some sources are reporting that the China Investment Corporation (CIC) could be the winning bidder for Logicor, the European logistics business of The Blackstone Group. Other bidders include Global Logistics Properties (GLP) and Temasek Holdings, along with Mapletree Investments. Blackstone hired Eastdil Secured to facilitate the sale. CIC is being advised by KPMG and Cushman & Wakefield.

London Stock Exchange Buys The Yield Book and Will Oversee the World Government Bond Index Series

The London Stock Exchange is buying The Yield Book and an indexing business from Citigroup for US$ 685 million in cash. The Yield Book is a fixed-income analytics service. The London Stock Exchange is also getting the Citi Fixed Income Indices businesses. The exchange will have access and be able to license the popular World Government Bond Index series.

Christian Brothers Investment Services Names New CEO

Jeffrey McCroy was named the Chief Executive Officer at Christian Brothers Investment Services, Inc. Christian Brothers Investment Services is owned by the U.S. Districts of the De La Salle Christian Brothers and the Center of the Institute in Rome. Owner representatives sit on the Christian Brothers Investment Services’ board of directors along with professionals from a variety of other industries. Christian Brothers Investment Services oversees roughly US$ 6.9 billion in assets for dioceses, colleges and universities, religious institutes and health care systems.

Previously, McCroy was Head of Global Client Relationship Management at American Century Investments.

GIC Engages in Block Deal for BPI Stake

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Mergermarket Gets Ready to be Sold

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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.

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Why Japan Post Sees Promise in Aflac

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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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RDIF and Development Agency of Serbia Agree to Explore Joint Investments

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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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