TSX:TECK.A - Post by User
Post by
goldishon Apr 09, 2009 11:58am
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Post# 15908032
Temasek digging for deals
Temasek digging for deals
Singapore's Temasek is digging for deals in mining and oil, as it licks its wounds from financial sector investments that have soured in a global crisis. The state investor is eyeing "aggressively sized" resource assets and could do a deal in the $5-billion range, a source familiar with the situation said, declining to be identified due to the sensitive nature of such deals. Energy and resources make up just 5 per cent of Temasek's portfolio, worth 127-billion Singaporean dollars ($103-billion) at the end of November. Temasek may be looking at Teck Cominco Ltd., TCK.B which is scrambling to sell assets in a bid to raise cash to pay off a $5.8-billion (U.S.) bridge loan, the source said. TCK.B (TSX) rose 78 cents (Cdn.) to $8.75.