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April 23, 2019

OUE Investments offloads 33% stake in Nuvest Capital

OUE Investments (OUEI), part of OUE, has divested its 33% stake in Singaporean fund manager Nuvest Capital.

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The deal involved the sale of 792,000 ordinary shares.

The stake was sold to Nuvest founder Aje Kumar Saigal, with the deal valued at $1m.

Before the sale, Saigal held a 67% stake in the firm.

OUEI first purchased the 33% stake almost four years ago, following which Nuvest Capital became an associated company of OUE.

OUE said that the sale will not have a material impact on the net tangible assets or earnings per share for financial year 2019.

Nuvest Capital manages the Nuvest Real Return Fund, which aims to offer stable returns by diversifying across varied investment classes.

The vehicle was introduced in 2012 using the seed capital of sovereign wealth fund GIC.

OUE said in a statement: “The consideration was arrived at on an arms’ length willing-seller-willing-buyer basis after taking into account various factors such as the financial performance, financial position and business prospects of Nuvest Capital.

“The consideration will be wholly satisfied in cash.

“As at 31 December 2018, the net asset value of Nuvest Capital attributable to the equity stake of 33% of the issued share capital of Nuvest Capital held by OUEI recorded in the Group’s statement of financial position was approximately S$1.37 million.”

 

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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