Mubadala Acquires Stake in Russian Developer Etalon
Posted on 05/24/2021
On May 21, 2021, Mubadala Investment Company acquired 6.28% of shares in Etalon Group Plc, one of Russia’s largest and longest-established development and construction companies.
Mubadala Investment Company has notified Etalon Group about the acquisition of a 6.28% stake in Etalon Group, the equivalent of 24.1 million GDRs, crossing the 5% voting rights threshold.
Earlier, Etalon listed 88.5 million GDRs on London Stock Exchange and Moscow Stock Exchange, which accounts for 30% of the total registered capital of the company considering the additional issue.
Founded in 1987, Etalon Group focuses on middle class residential real estate in the Moscow and St. Petersburg metropolitan areas. Etalon Group has been listed on Moscow Stock Exchange since 2011. Global depositary receipts of the company started trading on Moscow Stock Exchange in February 2020. In 2019, Etalon Group acquired and consolidated 100% in
BPJamsostek Plans to Invest in Indonesian Infrastructure with Country SWF
Posted on 05/24/2021
Indonesia’s sovereign wealth fund (Indonesia Investment Authority) signed a Memorandum of Understanding (MoU) with state social security fund BPJS Ketenagakerjaan (BPJamsostek) to invest in infrastructure, the two companies said in a joint statement.
BPJamsostek is one of the biggest fund managers in Indonesia with 490.1 trillion rupiah worth of assets under management.
BPJamsostek will partner with the Indonesia Investment Authority to invest directly in assets such as toll roads, sea ports and airports, as well as digital infrastructure and medical support, Anggoro Eko Cahyo, BPJamsostek’s chief executive said in the statement. BPJamsostek is joining foreign asset owners like CDPQ, Abu Dhabi Investment Authority, and APG Asset Management in this venture.
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Swiss Life Gets Busted for Conspiring with US Tax Evaders to Hide Assets and Income
Posted on 05/24/2021
On May 14, 2021, the U.S. Department of Justice (DOJ) filed a criminal information charging Swiss Life Holding AG (Swiss Life Holding), Swiss Life (Liechtenstein) AG (Swiss Life Liechtenstein), Swiss Life (Singapore) Pte. Ltd. (Swiss Life Singapore), and Swiss Life (Luxembourg) S.A. (Swiss Life Luxembourg), collectively, the “Swiss Life Entities,” with conspiring with U.S. taxpayers and others to conceal from the Internal Revenue Service (IRS) more than US$ 1.452 billion in offshore insurance policies, including more than 1,600 insurance wrapper policies, and related policy investment accounts in banks around the world and the income generated in these accounts.
DAILY DOSE: May 23, 2021
Posted on 05/23/2021
1. Bitcoin’s extreme price volatility carried into the weekend. The price of Bitcoin (BTC) May 23, 4:14 PM UTC is 32,309.00 USD.
2. 21 runners including champion athlete and Paralympic star are killed when hail, freezing rain, and high winds impact 62-mile Chinese cross-country mountain race in Gansu province. Official news agency Xinhua confirmed 21 of the 172 participants have reported as died. Runners Liang Jing and Huang Guanjun are among the dead.
3. The Centers for Disease Control and Prevention’s (CDC) vaccine safety group is investigating reports that some teenagers and young adults who have been vaccinated against coronavirus have experienced heart problems (myocarditis) days after receiving their second shot. Myocarditis results in an inflammation of the heart muscle which can occur following certain infections. These are with the mRNA vaccines, which made by Moderna and Pfizer-BioNTech. The working group then reviewed t