No clear leader in race for next chief of bourse operator thestandard.com.hk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestandard.com.hk Daily Mail and Mail on Sunday newspapers.
CPPIB to acquire SoftBank’s 80% in SB Energy for $425 million
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The sale price is much below the $800 million book value or equity invested in the high-profile joint venture and a far cry from the $1.2 billion originally sought.
Agencies
An additional $100 million will be paid subject to future outcomes, said people aware of the development.
Ending months of negotiations, SoftBank agreed last weekend to sell its entire 80% holding in SB Energy Holdings to Canada Pension Plan Investment Board (CPPIB) for $425 million. An additional $100 million will be paid subject to future outcomes, said people aware of the development.
The sale price is much below the $800 million book value or equity invested in the high-profile joint venture and a far cry from the $1.2 billion originally sought.
See Why Sovereign Wealth Funds are Betting on Clean Tech
Posted on 12/24/2020
2021 is approaching and sovereign wealth funds are increasingly taking a deeper look into ESG investing and sustainable investments, particularly in renewable energy. Despite the gloomy coronavirus lockdowns, sovereign wealth funds continue to allocate mounds of capital into clean tech investments. Sovereign investors are backing both new green technologies, while supporting large-scale solar and wind power plants. Even though the majority of European and Gulf-based sovereign wealth funds derive their wealth from fossil fuels, there is a greater need for them to diversify into alternative energy as low oil prices continue to toil. Low oil prices have deeply impacted the budgets of Gulf economies, forcing them faster to rethink their old ways of doing things. For example, Saudi Arabia was forced to lower its budget plan for 2021 by 7% from this year’s. This was due to the coronavirus lockdowns, which imp
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(Bloomberg) Global equity markets are on fire, reaching $100 trillion in value. Low-rated junk bonds have had an epic rally. Tech IPOs are in such hot demand that AirBnb Inc. is worth more than Goldman Sachs Group Inc.
(Bloomberg) Global equity markets are on fire, reaching $100 trillion in value. Low-rated junk bonds have had an epic rally. Tech IPOs are in such hot demand that AirBnb Inc. is worth more than Goldman Sachs Group Inc.
To Mark Machin, the CEO of one of the worldâs largest pension funds, Canada Pension Plan Investment Board, the exuberance in public markets is a signal to extend his fundâs already-huge bet on private assets.
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