BC Partners is the last remaining bidder for Springer Science+Business Media, three people familiar with the negotiations said, as the German publisher’s owners plan to decide by the end of this week whether to sell or float the group. BC has made an offer that would value Springer between $4.1 billion and $4.6 billion, the sources told Reuters.
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Government of Singapore Investment Corp and Canada’s Ontario Teachers Pension Plan are among final bidders to buy stakes in South Korea’s unlisted Kyobo Life Insurance in deals worth up to $1.4 billion, writes Reuters. Daewoo International Corp and state-run Korea Asset Management Corp are offering about a one-third stake in the life insurance company in [...]
Caisse de Dépôt et Placement du Québec and the Government of Singapore Investment Corp. are in the “pole position” to jointly buy AXA Private Equity, according to a report
Investors including a fund managed by Morgan Stanley and the Government of Singapore Investment Corp are in separate talks to buy a Mumbai property from Indian textiles firm Alok Industries for about $200 million, Reuters reports.
Buyout shop Bain Capital and the Government of Singapore Investment Corp. will invest an undisclosed amount in Hero Investments, Reuters reported. The money will help fund Hero’s $851 million acquisition of Honda Motors’ 26% stake in its Indian joint venture. The funds will be used to retire a significant portion of debt raised for the deal, Reuters said.
Singapore sovereign wealth fund GIC is seeking to sell an office building in Seoul, Reuters reported citing South Korea’s Maeil Business Newspaper. The property has an estimated value of up to 1.1 trillion won ($977.2 million), the newspaper said. Government of Singapore Investment Corp., purchased the 30-story building, which is known as Seoul Finance Center, for 355 billion won in 2000.
Just days after Chinese regulators approved Morgan Stanley’s divestment from China International Capital Corp., a syndicate of investors, led by private equity firms Kohlberg Kravis Roberts & Co. and TPG Capital, have stepped up with an offer, Reuters reported. The two U.S. buyout shops, as well as the Government of Singapore Investment Corp. and the insurance arm of Oversea-Chinese Banking Corp., have teamed up to buy the 34.3% stake. Morgan Stanley is expected to get more than $1 billion for the stake, which it received for just $37 million more than a decade ago, Reuters said.
The Government of Singapore Investment Corp will be investing more in developing countries, it has announced, because it expects a slowdown in economic growth in the West. Its chief investment officer, Ng Kok Song, said that growth in Asia will be 8 percent, compared to 2.4 percent in the developed world. The GIC manages over $200 billion, the larger portion of which will go into emerging markets.