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Posts Tagged ‘KKR’

GIC into margarine? And teaming up with Jack Ma?

In GIC, Private Equity on 19/08/2017 at 1:24 pm

FT reported on Friday that on Thursday, KKR, the giant US buyout firm, and GIC were reportedly coming together to pursue a £6bn bid for Unilever’s spreads business which includes brands such as Flora and I Can’t Believe It’s Not Butter. “KKR and Unilever declined to comment. GIC didn’t respond to a request for comment.”

Unilever wants to sell its spread business to focus on foods products with better margins.

Other private equity groups are planning to bid but I’m sure that TRE cybernuts will say that this is another bad move.

Then there’s a deal involving Jack Ma.

Yunfeng Financial Group backed by Alibaba billionaire Jack Ma (via Ant group), agreed to buy the Asian unit of Massachusetts Mutual Life Insurance Co which offers death benefits and annuities.

The buyer will pay HK$13 billion (US$1.7 billion) for Hong Kong-based MassMutual Asia Ltd, with about 60 per cent of that sum in cash, and the rest in Yunfeng stock, the seller said on Thursday in a statement. GIC and Ma’s Ant group are also buying into the deal.

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Temasek: Vindication of its big bet on shale gas?

In Energy, Temasek on 16/06/2010 at 5:23 am

We’ve analysed that Temasek ignored MM’s warning against extractive industries (OK “mining” to be precise) when it went into shale gas https://atans1.wordpress.com/2010/05/21/temasek-ignoring-mm-iii/

The news sometime back that Shell is paying US$4.7bn for a shale gas firm confirms that Temasek and other SWFs are correct. Err except that the seller, private equity firm KKR, is reported to have paid US$350m juz 11 mths ago for a “significant minority interest”.  KKR invested via debt convertible into equity.

So jury is out on whether Shell, Temasek, etc. are bubble blowers and buyers.

One wishes Temasek were ahead of the curve (StanChart, Indonesian telcos, Asian banks) instead of being in the middle (hopefully — like the Chinese banks*) or at the back (Merrill Lynch, Barclays, ABC Learning, Shin: anything else?)

There are reports that Temasek will be a keystone investor in the AgriBank of China. If true this will be the third major investment in a Chinese bank. The other two have been good investments.