Singapore Inc. State Firms Are Most Acquisitive: Southeast Asia
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GIC Pte and Temasek Holdings Pte, Singapore’s state-owned investment firms, are set to lead global sovereign investors in acquisitions for a second year after emerging as the most active in 2013.
The $15.7 billion spent by both companies accounted for about a third of direct investments by state investors globally last year, according to data compiled by the London-based Institutional Investor’s Sovereign Wealth Center. Temasek and one of its units announced two purchases in March that amounted to $8.9 billion, or 57 percent what the two companies invested last year, according to data compiled by Bloomberg.