Singapore’s sovereign wealth fund GIC has bought 5 per cent stake in consumer research company Nielsen, in a deal valued at over $800 million.
In its regulatory filing, New York-listed Nielsen said GIC had bought 18.79 million shares in the company. Based on the last traded share price of the company ($43.75 apiece), this works out to be around $822 million, even as it values the television ratings firm, that has operations in over 100 countries, at over $16.6 billion.
The sovereign wealth fund, which analysts believe manages assets of over $300 billion, has been making a slew of investments across the globe over the last couple of months. Its last major deal billion dollar plus deal was in December 2014 when it agreed to buy IndCor Properties Inc from private equity firm Blackstone Group LP for $8.1 billion.
Also read: GIC to buy Blackstone’s IndCor for $8.1b
In October 2014, the fund had bought a building in Tokyo – Pacific Century Place Marunouchi – for $1.7 billion from Secured Capital Japan Co., the real estate arm of Hong Kong-based alternative-asset manager PAG.
Last month, DEALSTREETASIA had reported that groups led by Blackstone Group and CVC Capital Partners, as well as Ireland’s CRH, had submitted bids for assets put up for sale by cement makers Holcim and Lafarge ahead of their planned merger.
Also read: GIC might bid for Holcim-Lafarge assets
Recently, DEALSTREETASIA has reported that GIC as well as Singapore government’s state investment arm Temasek Holdings were among the leading global funds that are that are in the race to pick up to 30% stake in the merged British mobile phone giants – 02 and Three.