MUMBAI: The Singapore government, which runs sovereign funds Temasek Holdings and the Government of Singapore Investment Corporation or GIC, will be the sole beneficiary of a recent relaxation in takeover rules for sovereign funds, said a person familiar with the Sebi board's decision.
Other funds from countries such as China, Oman and Malaysia will not be entitled to such benefits, said the person who did not want to be identified. Both these sovereign funds from Singapore will be allowed to acquire up to 20% stake in a listed Indian company without having to make an open offer to existing public shareholders. Full story
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