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Top 10 SWF Direct Deal Transactions of 2010

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The table below displays the top ten SWF Direct Deal Transactions of 2010, excluding the SWFTD’s open market transactions. The direct transaction amounts are smaller compared to the bailout years of 2007 and 2008. The IPO of the Agricultural Bank of China has made a notable impact on the list.

# Date Target Company Target Country Target Sector SWF Parent SWF Country Direct Transaction Amount (USD Millions)
1 9/24/2010 Petrobras Brazil Energy FSB Brazil 7,077
2 7/16/2010 Agricultural Bank of China China Financials QIA Qatar 6,000
3 10/18/2010 Banco Santander Brazil SA (unit of Banco Santander SA) Brazil Financials QIA Qatar 2,719
4 8/18/2010 Parkway Holdings Ltd Singapore Healthcare Khazanah Malaysia 2,600
5 6/16/2010 Unicredit SPA Italy Financials IPIC United Arab Emirates 2,300
6 5/7/2010 Harrods Ltd. United Kingdom Retail QIA Qatar 2,227
7 7/14/2010 Agricultural Bank of China China Financials NCSSF China 2,195
8 7/16/2010 Agricultural Bank of China China Financials KIA Kuwait 1,900
9 1/9/2010 Arabtec Holdings PJSC United Arab Emirates Materials IPIC United Arab Emirates 1,748
10 3/15/2010 AES Corporation United States Energy CIC China 1,581

Source: Sovereign Wealth Fund Transaction Database – Deals Only (No open markets)

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Nomura and CIC Contemplate Joint Investment Fund

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Japan-based Nomura Holdings is in talks with the China Investment Corporation (CIC) on forming a new investment fund. The fund could be receive commitments up to US$ 1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Holdings Dumps More of Celltrion

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On October 22, 2018, Singapore’s Temasek Holdings, through its sovereign wealth enterprise (SWE) Ion Investments, entered into its second block deal in selling shares in Celltrion, a South Korean bio-pharmaceutical company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Alleged Fraud, Data Breaches, and Bias, Plague Facebook

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In an unfortunate break for Facebook, the true nature of its data breach is more troubling than previously believed. The social media giant revealed that its headline-topping security breach, which affected 29 million accounts, compromised personal information and seemingly confidential contact information. The FBI is said to be investigating. In September 2018, the story broke that user content, email, and phone numbers, along with personal profile information, was swiped from the site. Facebook has admitted the problem, but stopped short of offering users an apology. The U.S. Federal Trade Commission (FTC) and the Irish Data Protection Commission have questioned Facebook on the matter.

Access Tokens

At the root of the breach were Facebook “access tokens.” These are digital keys that give sites access to keep users logged in and to recognize them upon entry. Unknown hackers reportedly stole these access tokens for 400,000 people. They then used “friends lists” to steal tokens from their networks. Facebook did not shy away from noting that unauthorized access “included username, gender, locale/language, relationship status, religion, hometown, self-reported current city, birthdate, device types used to access Facebook, education, work, the last 10 places they checked into or were tagged in, website, people or Pages they follow, and the 15 most recent searches.” This is, clearly, a staggering amount of personal information and a black eye for the corporation.

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

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