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Temasek Holdings Mulls Markit Group Stake

Singapore’s Temasek Holdings is positioned to purchase a stake worth around US$ 500 million in Markit Group Limited. Temasek’s potential stake would reduce the banks’ stake. Founded in 2001 by Lance Uggla and a group of executives, Markit is a data provider based in the United Kingdom. Among other products and services like trade processing, the private company provides data on prices and valuations of privately-traded credit derivatives.

In 2005, Markit opened an office in Singapore.

In July 2012, they spearheaded a bond pricing service for the Singapore dollar bond market. This was in response to the Monetary Authority of Singapore’s desire to expand and deepen Singapore’s debt capital market.

Markit is contemplating capital raising options like a potential initial public offering. In January 2010, General Atlantic Partners parked US$ 250 million for a 7.5% stake, valuing the company at the time to be US$ 3 billion. The capital has allowed Markit to acquire companies, expand products and reach new markets.

Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

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bcIMC Buys into Bottling Business with PAI in €1.623 Billion Takeover of Refresco

Dutch soft-drink bottler Refresco Group N.V. has agreed to a buyout offer for all 81.2 million of its shares from French private equity firm PAI Partners SAS (PAI) and Canadian pension manager British Columbia Investment Management Corporation (bcIMC) in exchange for €20 in cash per ordinary share for a total consideration of €1.623 billion. Refresco’s major shareholders, which includes 3i Group, and shareholding members of its boards, who represent 26.5% of outstanding shares, have said they stand behind the deal.

Refresco’s board rejected an initial offer from PAI in April 2017 of €1.4 billion, which they felt did not adequately capture the value added by their plans to bolster its presence in North America through the acquisition of Canadian bottler Cott TB, a deal that went through in July for US$ 1.25 billion.

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Digital Insurance Distributor BGL Opts for CPPIB Money Over IPO

Canada Pension Plan Investment Board (CPPIB) is investing £675 million (US$ 895.715 million) for a 30% stake in Peterborough-based BGL Group, a digital distributor of insurance and household financial services to 8.5 million customers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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