Connect with us

Temasek Holdings Buys Stake in Repsol SA

Published

on

Singapore’s Temasek Holdings increased their stake in Repsol SA. Repsol is Spain’s largest oil company; they recently announced the sale of their liquefied natural gas assets to Royal Dutch Shell Plc for US $4.4 billion cash excluding debt. Temasek Holdings purchased 5.04% of treasury shares (64.7 million shares at € 16.01) from Repsol for 1.68 billion SGD (US$ 1.35 billion). Temasek Holdings now holds a 6.3% stake in Repsol.

Temasek Holdings has been steadily augmenting their portfolio in the energy sector, backing both emerging companies and established players.

Tay Sulian, managing director of investment at Temasek Holdings, said: “The investment in Repsol deepens our exposure to the energy sector through a high quality growth-oriented company.”

He added, “The sector is a good proxy for the needs of transforming economies and growing middle-income populations, both of which are part of Temasek’s investment themes. We are pleased to have the opportunity to invest in Repsol, and will continue to look for good, long-term investments in the energy space.”

In May 2012, the government of Argentina’s nationalization of YPF SA exerted stress on Repsol’s financial health. Repsol’s credit rating was on the verge of junk status, a major risk for a capital intensive industry.

For Repsol, the deal with Temasek Holdings was discounted causing a €148 million cash loss for the company. On the other hand, the deal should have a positive impact on the company’s credit rating, while increasing the stability of their balance sheet.

Ascendas-Singbridge Acquires Three Hotels in Osaka

Published

on

Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

BlackRock Contemplates Stake in Eurizon

Published

on

Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

Continue Reading

SWFI First Read, June 22, 2018

Published

on

JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.