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Temasek and Sinopec Possible Buyers of Gas Natural

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nyc_realestate_sovereignwealthfundSingapore sovereign wealth fund Temasek Holdings and Chinese oil company Sinopec expressed interest in Repsol’s stake in Gas Natural SDG, S.A. The Spanish oil company has a 30% total interest worth €4.7 billion in Gas Natural. Repsol wants to sell a 24% interest – the other 6% is held as an indirect stake.

Fortunately for Temasek Holdings, they are a strategic investor in Repsol, currently holding a 6.3% stake. Temasek Holdings is a major investor in liquefied natural gas companies – going so far as to create a specialized entity called Pavilion Energy. Pavilion energy focuses on the LNG value chain in order to ensure long term supply.

In October 2010, Repsol and Sinopec inked a milestone agreement to develop the projects of Repsol Brasil, a Brazilian subsidiary of Repsol. The increase in capital was allocated to boost capital investment in Brazil’s offshore oil fields.

Gas Natural’s two major investors are Repsol and La Caixa, a Spanish bank. La Caixa has a 34% stake in the utility. The domestic gas distributor has operations in Spain and parts of Latin America. According to Gas Natural’s investor presentation, 43% of their first half 2013 EBITDA comes from international operations.

Kuala Lumpur to Singapore Highway Delayed

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The Malaysian government under Prime Minister Mahathir bin Mohamad has been reprioritizing its large-scale infrastructure developments. The highly anticipated railway from Kuala Lumpur to Singapore has been delayed by another five years. The governments of Malaysia and Singapore signed a formal agreement on September 5, 2018. The previous ruling party in Malaysia had set the railway in motion, but the current administration is seeking time for further review. A joint statement suggested that the railway was still a certainty.

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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