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Temasek Holdings Invests in NA Natural Gas Fuel Provider

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The market adoption of natural gas as a source for vehicle fuel is growing rapidly in the world. Natural gas fueling services are positioned to propagate in the United States and Canada. In North America, Clean Energy Fuels Corporation is a major provider of natural gas fuel for transportation.

The company has operations in LNG and CNG vehicle fueling. Three investment entities, including Temasek Holdings have agreed to invest US$ 150 million in the company through the form of 7.5% convertible notes due in 2016. Notes will be convertible to shares of common stock at US$15.00 per share. The other major investor in this deal is RRJ Capital founded by Richard Ong. Earlier in April 2011, Temasek Holdings partnered with RRJ Capital on a deal to take a large controlling stake in Frac Tech Holdings.

Deal Investors:

  1. Springleaf Investments Pte. Ltd – Sovereign Wealth Enterprise of Temasek Holdings
  2. Lionfish Investments Pte Ltd – Subsidiary of Seatown Holdings International Pte. Ltd
  3. Greenwich Asset Holding Ltd – Subsidiary of RRJ Capital Master Fund I, L.P.

“This investment by Temasek, Seatown and RRJ demonstrates their confidence in the opportunity for fueling natural gas vehicles as well as in Clean Energy’s position as the leader in growing this market,” said Andrew J. Littlefair, President and CEO of Clean Energy. “Our development program for fueling station-building is expanding rapidly and we welcome the support provided by the funds.”

Source: Press Release

Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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