The Hanoitimes - VinHomes is GIC`s largest investment to date with the current market value of VND15 trillion (US$639.25 million), followed by Masan with VND6 trillion (US$255.7 million) and Vietjet Air with VND3.7 trillion (US$157.68 million). With investment portfolio of nearly VND30 trillion (US$1.3 billion) in Vietnam, Singapore's sovereign wealth fund GIC is one of the largest investors in the country, along with Dragon Capital, VinaCapital and Korea Investment Management (KIM). Illustrative photo. On October 5, GIC, through its subsidiary Ardolis Investment, bought roughly half of US-based KKR & Co.'s 4.7% stake worth around US$100 million in Masan, one of the three largest privately-run conglomerates in Vietnam in terms of market capitalization. After the deal, GIC holds a total of 75.7 million shares or a 6.5% stake in Masan. An investment in Masan will join GIC purchases in Vietnam's airlines, banking and real estate industries. GIC Chief Executive … [Read more...] about Singapore’s wealth fund GIC invests nearly US$1.3 billion in Vietnam
AkzoNobel N.V. (AKZA; AKZOY) has completed the sale of its Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion ($11.6 billion) on October 5. Poland-based headquarter of AkzoNobel This is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company with market leading position, strong global brands, and a clear strategy to create value for all our stakeholders. “This is also an important step for the Specialty Chemicals business and I would like to take this opportunity to thank our colleagues and wish them a successful future with Carlyle and GIC,” Thierry Vanlancker, CEO of AkzoNobel, said. Charles Shaver, CEO of Specialty Chemicals, said: “I am delighted to assume my new role at Specialty Chemicals and look forward to working with the management team, Carlyle, and GIC to deliver long-term success. Specialty Chemicals has a strong global presence and a talented and dedicated … [Read more...] about AkzoNobel sells Specialty Chemicals to The Carlyle Group and GIC
The Hanoitimes - It purchased the stock as part of a placement by KKR, which offloaded its entire holding in a US$209 million deal. Singapore's sovereign wealth fund GIC bought roughly half of US-based KKR & Co.'s 4.7% stake in Masan, Bloomberg reported. Illustrative photo. It purchased the stock as part of a placement by KKR, which offloaded its entire holding in a US$209 million deal. KKR is exiting its Masan investment after shares of the Vietnamese conglomerate more than doubled. The private equity firm sold 54.8 million Masan shares at VND89,200 (US$3.84) apiece, the midpoint of a marketed range. An investment in Masan will join GIC purchases in Vietnam's airlines, banking and real estate industries. GIC Chief Executive Officer Lim Chow Kiat said last month that he saw potential opportunities in emerging markets, which are experiencing "idiosyncratic" rather than "systemic" challenges. The sale price represents a 5% discount to Masan's Thursday … [Read more...] about Singapore’s wealth fund GIC invests in Vietnam’s Masan: Bloomberg
Singapore sovereign wealth fund GIC will invest about $1.3 billion in leading Vietnamese property developer Vingroup and related entities for its real estate arm ahead of its market debut, which is slated for the second quarter of this year. Vinhomes' Imperia project in Haiphong GIC will purchase an ordinary shares and extend a debt-like instrument to the subsidiary of Vingroup namely Vinhomes, subject to the satisfaction of mandatory regulatory and other conditions. The combined value of the investment and debt instrument is approximately VND29.5 trillion, or $1.3 billion. GIC is a sovereign wealth fund of the Singaporean government. It invests in the unlisted public market and private equity with a focus on healthcare, operating infrastructure, as well as financial and business services, among others. GIC is one of the largest investment funds in Vietnam. It currently holds a 5 per cent stake in Masan Group, 5 per cent in VietJet, 0.7 per cent in Vinamilk, … [Read more...] about Vingroup receives $1.3 billion from GIC for property development
The money Vinhomes used to buy Berjaya’s two long-delayed projects may be part of the $1.3-billion investment that it received from GIC Private Limited. Vinhomes Imperia project in Haiphong According to newswire Cafef, Vinhomes, Vietnam's leading real estate management company and the property management arm of Vingroup, signed an agreement with GIC. Accordingly, GIC will pour $1.3 billion into Vinhomes by buying part of Vinhomes’ stakes and by supplying a loan to help Vinhomes develop its projects. The agreement came into effect on April 12. The information comes after Vingroup released that through Vinhomes it has recently acquired two long-delayed projects from Malaysian Berjaya Corporation. Notably, Vinhomes has completed the purchase of a 97.7 per cent stake in Berjaya Vietnam International University Township One Member LLC and Vietnam Berjaya Financial Centre. The first deal was VND11.75 trillion ($515.6 million) in value, while the capital contribution to … [Read more...] about Vinhomes uses $1.3 billion of GIC investment to buy Berjaya projects?