Investments

by Shereen Bushehri

Bank Of America Investment The government-owned Bahrain Petroleum Company (Bapco) yesterday signed a $1.011 billion financing package with a number of banks for the upgrading of the country's sole oil refinery.

by Dave Porter A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems for $11.3 billion, the largest buyout of a public company since 1989. If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free. Print This Page March 28, 2005 (AXcess News) A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems ( SDS) for $11.3 billion, the largest buyout of a public company since 1989.

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These institutions', American Development Bank, World Bank, U.S. Overseas Private Investment Corporation, U.S. Import Bank, $352 million in approved financing for 18 projects; thus, fossil fuel financing in the Americas outpaces clean energy by a ratio of 63 to 1. Most of this investment in fossil fuels has come from US taxpayers, who are unwitting underwriters of loans, guarantees and subsidies to Big Oil. Although the Americas have obtained over $22 billion in public support for fossil fuels since the Rio Earth Summit in 1992, most of this oil and gas has been exported to the U.S.

Banc Of America Investment Feb 8, 2005 (AXcess News) Manama - The government-owned Bahrain Petroleum Company (Bapco) yesterday signed a $1.011 billion financing package with a number of banks for the upgrading of the country's sole oil refinery.The package included a $370 million commercial facility, a $330 million Islamic lease facility and a $311 million tranche guaranteed by Japan Bank for International Cooperation and Nippon Export Credit Agency.Banks involved in the financing include BNP Paribas, HSBC Bank, Mizho Bank, Arab Banking Corporation, Gulf International Bank, National Bank of Bahrain, Kuwait Finance House, Dubai Islamic Bank and Arab Petroleum Investment Corporation.

In an emergency deal, authorized by the Treasury Department and the Fed, JPMorgan Chase bought the troubled fifth largest US investment bank Bear Stearns reaching worth of revised deal about $1, 2 Billion.

Banking Investment "The financing is based on a commodity structured scheme which relies on both Bapco's corporate strength and strong sovereign support", said Bapcos Chairman and Minister of Oil, Sheikh Isa ibn Ali Al- Khalifa.

With talks yesterday about a possible sale of the Sachsen LB, which is the state bank of Saxony, prime crisis. The SachsenLB had billions of asset backed securities in its portfolio which are now about to default on the back of the US credit woes. The SachsenLB is privatized, in contrast to most other state banks which are state owned, and its securities were backed up by the banks owners; however the clear overexposure of the bank through risky investments called for more transparency of banks investments.

Investment Solution Strategic Japanese oil engineering company JGC Corporation has been awarded the construction contract of a new hydrocracker unit with a capacity of 40,000 barrels a day to produce low sulfur diesel.Construction is expected to start next month. The low sulfur diesel project is the main element of Bapco's strategic investment program. Its main objective is to reduce the current high sulfur Advertisement

it is providing $1.6 billion in financing to an investment vehicle it helped set up last year that has run into financial problems. 56 p.m. HSBC will sign a deal within 10 days to buy the 51% stake in Korea Exchange Bank owned by Lone Star Funds for more than $5.5 billion. European shares advanced Friday on hopes that possible action on interest rates and mortgage insurance could help limit the damage to the global economy from problems in the U.S. housing sector.

Investment Banking Services content of Bapco's diesel from an average of 0.7 percent to 0.001 percent to give the company a competitive position in the international oil market. The project is expected to be completed in early 2007.

Bank Investment JGC's contract also involves upgrading an existing hydrocracker to produce low sulfur diesel. A new Refinery Gas Desulphurization unit with a capacity of 45,000 b/d will be also built as part of the modernization program.

Alternative Investment Bapco has already invited bids for the engineering, procurement and construction of this project from four international companies - French company Technip, Chicago Bridge and Iron, Foster Wheeler (FWLRF) and Fluor Daniel (FDGT). Bids are due in April.When the diesel project is completed, Bapco will have the flexibility to produce gasoil, kerosene and liquefied petroleum gas from the unit.

Online Investment Services "The return on investment from these projects is estimated at 20% to 24%," said Bapco's Chief Executive Mustafa Al-Sayed.

Accompany Essential Investment Source: Arabnews

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