HTC acquired by Singaporean state-owned company

Photo credit: Studio040

The High Tech Campus was not taken over by the American company Oaktree Capital, but by Europe Petra Private Limited, a subsidiary of the Singaporean company GIC Private Limited.

This is evident from a publication by the Netherlands Authority for Consumers and Markets. GIC Private Limited has been managing the city state’s financial reserves for 40 years and is one of the largest investment funds in the world. The Singaporean newspaper, The Business Times, wrote at the beginning of this year that the fund has about $488 billion in assets worldwide.

Oaktree Capital is not the party that acquired HTC but does manage the funds for the new Singaporean owner. However, that does not seem to make much difference to the affairs of HTC.

Source: Studio040

Translation by: Hang Vu

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