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SWFI First Read, October 17, 2016

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OTPP Inks Deal on Canadian Wine Business of Constellation Brands

Victor, New York-based Constellation Brands Inc. inks a deal to dispose its Canadian wine business for C$1.03 billion (US$ 780 million) to the Ontario Teachers’ Pension Plan (OTPP). The transaction, which includes Canadian wine brands such as Jackson-Triggs and Inniskillin, wineries, vineyards, offices, facilities, and Wine Rack retail stores is subject to regulatory approval and is expected to close by the end of 2016. Constellation Brands will continue ownership of Black Velvet Whisky and the related production facility in Lethbridge, Alberta, Canada.

Bank Sohar and Bank Dhofar End Merger Talks

Bank Sohar and Bank Dhofar, two large Oman banks, have ended talks regarding a merger. A merger between the two lenders would have created the second largest bank in Oman behind Bank Muscat.

Uncertainty Regarding Misys Offering, Lowers Price

Financial software giant Misys has lowered its offering price by 30% to be valued around £3.2 billion and £3.5 billion, versus £4.5 billion. Vista Equity Partners took Misys private back in 2012 for £1.27 billion.

Sovereign Wealth Encircles Kerala Institute of Medical Sciences

Ascent Capital Pvt. Ltd and OrbiMed Advisors LLC are looking to sell their combined 40% stake in Thiruvananthapuram, India-based Kerala Institute of Medical Sciences, an operator of tertiary care hospitals. In addition, stock promoters plan to dilute an additional 25% to 30% of Kerala Institute of Medical Sciences. The private equity sellers are being advised by Rothschild. Interested investors in the Kerala Institute of Medical Sciences include Temasek Holdings, TPG Capital and India Value Fund Advisors Private Ltd. In 2012, Ascent Capital Pvt. Ltd and OrbiMed Advisors LLC invested Rs 170 crore into the Kerala Institute of Medical Sciences.

Arapahoe County Retirement Plan Hires Wam, Fires PIMCO on Bond Strategy

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

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