Goldman's Acquires Hague Based Investment Manager for 355 billion dollar European AuS Boost (With Caveats)

Goldman Sachs has agreed to acquire Hague-based NN Investment Partners for 1.6 billion Euros from NN Group NV.  The deal is expected to close end Q1 2022. The acquisition fits into GS' strategy to scale its European business. Assets under supervision will increase by approximately 355 billion dollars (some caveats over some mortgage assets which will continue to be managed by NN Group). GS has 2.3 trillion dollars in Assets under supervision globally.

Unilever Selects Legal Base of Rotterdam over London

Historically and inherently Anglo-Dutch, Unilever was formed from the merger of Dutch Margarine Unie and British soap maker Lever Brothers in 1930. Unilever is now looking to simplify its corporate structure and base its legal headquarters in Rotterdam, following a review of its dual-head structure triggered in 2017 by a $143bn takeover attempt by Kraft Heinz. Chief Executive Paul Polman said "This is not about Brexit".

The Art of Naptha Trading

Naptha is a lightweight hydrocarbon.

Who trades it?

• Vitol (primarily a physicals trader) trades about 14m tonnes of naptha per year.
• Trafigura has naptha trading teams in Geneva, Houston and Singapore
• Glencore - has been reported to buy naptha every so often direct from refiners like Essar

What is it used for?

Primarily a feedstock for high-octane gasoline.

The Story behind the Traders

Trafigura is a Dutch company founded in 1993 established by Claude Dauphin and Eric de Turckheim. They have been involved in a number of scandals including waste dumping in Cote d'Ivoire.

Glencore was started by Marc Rich, credited for creating the spot market for crude oil in the 1970s. It was formerly known as Marc Rich & Co. AG.